Court of Appeal of Tanzania Reaffirms Its Previous Decisions On Deductibility of Bad Debts and Impairment of Loan Losses for Financial Institutions

On 16^th June 2020, the Court of Appeal of Tanzania, in the case of National Bank of Commerce (“NBC”) versus Commissioner General, Tanzania Revenue Authority (“TRA”), Civil Appeal No. 251 of 2018, reaffirmed its previous decisions on the deductibility of bad debts and allowances for impairment of loan losses by banks and financial institutions. This tax alerts gives a bird-eye view analysis of this decision