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14.1. Books and Records

Companies are required to prepare and maintain annual accounts, consisting of balance sheet, profit and loss account and other supporting documents, on the basis of Generally Accepted Accounting Principles. The documents are required to be prepared and maintained for a period of 5 years.

Effective 1 July 2022, every taxable person who maintains documents in electronic form, is required to maintain a primary data server for storage of documents in Tanzania that is accessible by the Commissioner General for purposes of tax administration.