Finance Act 2010 - TRA

Additionof section17A4. The principal Act is amended by adding immediatelyafter section 17 the following new section:"Payment 17A.-(1) A person who exports raw_~export cashewnuts shall pay an export levy to be.!I('!Y ~Qmputed and collected by the Tanzania RevenueAuthority at the Tate of 15 percentum of the FOBv~e or the amount equivalent to US dollars onehU~ sixty per metric tone, whichever ishigher.(2) The total amount of export levy collectedunder subsection (1) shall be distributed, in such amanner that:(a) 65% would be remitted to the CashewnutsIndustry Development Trust Fund; and(b) 35% would be remitted to the ConsolidatedFund.(3) The Minister shall, in consultation withstakeholders, make regulations prescribing amechanism for distribution and use of the levycollected in terms of subparagraph (a)amongst cashewnuts stakeholders."PARTIDAMENDMENT OF THE EXCISE (MANAGEMENT AND TARIFF) ACT, (CAP. 147)ConstructionCap.147Amendmentofsection 2Amendmentofsection1225. This Part shall be read as one with the Excise(Management and Tariff) Act, hereinafter referred to as the"principal Act".6. The principal Act is amended in section 2, by insertingin its appropriate alphabetical order the following newdefinition:"Minister" means the Minister responsible for finance;"7. The principal Act is amended in section 122(1), bydeleting the word "authority" and substituting for it the word"Minister" .