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VELMA Law Advisory
VELMA Law Advisory are based in Dar es Salaam, Tanzania. We provide Tanzanian law advice on commercial matters in a wide range of areas.
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Read here a view on the Court of Appeal decision where the Tanzanian Court of Appeal has upheld the April 2016 decision of the Tanzanian Tax Revenue Appeals Tribunal that a UK-listed subsidiary (Acacia Mining PLC (Acacia)) of Canadian gold mining parent (Barrick Gold Corporation) entered into “a sophisticated scheme of tax evasion,” designed to save US$82 million in income tax, plus penalties and interest.
Read Acacia statement as at 5 October 2016.
Read Tax Revenue Appeals Tribunal decision.
Read Court of Appeal decision (to follow).
NOTE: This has been prepared for general information purposes for any interested persons, it is not comprehensive information on the subject matter and it should not be regarded as legal advice.
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