Tanzania's Parliament approved the TZS 62.33 trillion (approximately USD 24 billion) budget for the 2026/27 fiscal year on 23 June 2026, with 385 out of 393 votes in favor. The budget, which will take effect on 1 July 2026, includes a commitment to settle TZS 1.2 trillion in arrears and implement tighter expenditure controls following a week of debate and the passage of the Finance Bill 2026.

Tanzania's 2026/27 budget is set at TZS 62.33 trillion (USD 24 billion), reflecting a 10.3% increase from the previous year. The budget aims for a 6.3% GDP growth, with 74.2% of funding sourced from domestic revenue as grants decrease by 39.1%. Key measures for investors include reducing the deemed profit-distribution tax from 30% to 15%, a one-year income tax holiday for new businesses, and VAT exemptions on specific sectors.

Tanzania's Finance Bill 2026, introduced by Finance Minister Ambassador Khamis Mussa Omar on 24 June 2026, will take effect on 1 July 2026 and amends 26 laws to implement the 2026/27 budget tax measures. Key changes include the removal of a proposed 1% withholding tax on agricultural produce, a reduction in SME presumptive tax to 4%, and softened excise duties on imported used vehicles, among other adjustments.

Uganda's National Budget for the Financial Year 2026/27 was recently presented, highlighting the government's commitment to enhancing the lives of its citizens. According to the Minister of Finance, this budget is not just a financial document but a declaration of intent to protect previous gains and expand opportunities for all Ugandans.

Waziri wa Ujenzi, Abdallah Ulega, amesema Serikali inatumia mikopo nafuu ili kuharakisha maendeleo ya miundombinu ya kisasa nchini, ikiwemo barabara na viwanja vya ndege. Katika mchango wake kuhusu Bajeti ya Serikali ya mwaka 2026/2027 bungeni, Ulega alisisitiza kuwa mikopo hiyo imeleta matokeo makubwa yanayoonekana kwa wananchi, akipinga kauli za baadhi ya viongozi kuhusu suala hilo.

The Tanzania Revenue Authority (TRA) has exceeded its collection target for the fiscal year 2025/26, gathering Sh37.96 trillion, which is 105.24% of the intended target of Sh36.07 trillion, according to Nukta Africa.