Value Added Tax Act [CAP. 148 R.E. 2023] Practice Flashcards

Vocabulary-style flashcards based on the Value Added Tax Act [CAP. 148 R.E. 2023] covering tax collection, liability, and valuation of imports.

Section 8(1)(a) of the Value Added Tax Act

Specifies that VAT on taxable imports entered for home consumption in Mainland Tanzania is paid in accordance with the Act and procedures applicable under the East African Customs Management Act.

Section 8(1)(b) payment timing

For goods imported into Mainland Tanzania not covered by home consumption provisions, VAT is paid on the day the goods are brought into Mainland Tanzania in the manner prescribed by regulations.

Liability to pay value added tax on a taxable import

Arises by the operation of the Act and shall not depend on the making of an assessment by the Commissioner General.

Section 8(3) collection timing

The Commissioner shall collect value added tax due under the Act on a taxable import at the time of import.

East African Customs Management Act alignment

Provisions apply as if the value added tax payable on taxable imports were customs duty, and terms used in respect of an import of goods have the same meaning as in the East African Customs Management Act.

Value of an import of goods (Section 9)

The sum of the value of goods for customs duty purposes, the amount of any customs duty payable, and the amount of any tax, levy, fee, or fiscal charge other than customs duty and value added tax.

Section 10 subject matter

Concerns the value of returning goods imported after having been exported for the purpose of undergoing repair, maintenance, or cleaning.