The Entities in Tanzania are required agreed on the financial period end at the time of submission of the application of the TIN. And entities are required to maintain proper books of accounts.
YourGlobalPro professionals can assist you with the entire bookkeeping and accounting services for your Tanzania Business Setup as per your business needs including implementation of financial accounting software, accounting records preparation and time to time preparation of budgets, forecasts.
In Tanzania, all companies formed under The Companies Act, 2002, are required to have their financial statements audited at the end of each financial year. The first period end for the preparation of audited financial statements can be 18 months from the date of commencement of business.
Based on the size of the business - the companies are required to prepare and file financial statements with the Authority. YourGlobalPro professionals CAN provide you auditing services as required by your business.
The Bank of Tanzania is the central bank of the United Republic of Tanzania which is responsible for issuing the national currency, the Tanzanian shilling. The accounts can be opened and maintained in multi-currency and is available for all major currencies with the commercial Banks.
The documentation requirement differs from Bank to Bank and need to be complied for the Bank account opening. The major banks in Tanzania are AccessBank Tanzania, Advans Bank Tanzania, Akiba Commercial Bank, Amana Bank, Azania Bank, BancABC, Bank M, Bank of Africa Tanzania, Bank of Baroda (Tanzania), Bank of India (Tanzania), Barclays Bank of Tanzania, Citibank, Commercial Bank of Africa (Tanzania), CRDB Bank, DCB Commercial Bank, Diamond Trust Bank Tanzania, Ecobank, Equity Bank (Tanzania), Exim Bank (Tanzania), First National Bank of Tanzania, FBME Bank, Habib African Bank, I&M Bank (Tanzania), International Commercial Bank, Kenya Commercial Bank, Mkombozi Commercial Bank, National Bank of Commerce (Tanzania), National Microfinance Bank, NIC Bank Tanzania, People's Bank of Zanzibar, Stanbic Bank Tanzania Limited, Standard Chartered Bank, United Bank for Africa, UBL Bank Tanzania Limited, Mwalimu Commercial Bank. All banks are stable, reliable and offer the same level of services.
YourGlobalPro professionals can facilitate all the paper work in relation to banking need and can assist you in opening bank account for your business plan in Tanzania.