Audit and Assurance

We conduct independent financial statement audits in accordance with international standards (IFRS, GAAP), providing reasonable assurance that the statements are free from material misstatement.

Our firm believes in providing value added services through highest levels of professional competency and integrity to its clients. It provides assistance to clients in managing their key business concerns, be it achieving strategic business goals, meeting operational challenges, complying with regulatory norms or managing reporting requirements. Our audit approach focuses not only on financial statements related processes, but also on business drivers, the associated risks and their potential effects on financial statement accounts.

• Due Diligence Audit

In business, a due diligence audit is basically a careful investigation into the complete financial picture of a company. Generally, these audits come before a purchase, merger or other major decision that could negatively influence the finances of one or more businesses. These audits are generally used to ensure that no hidden liabilities exist.

Forensic accounting teams are often the backbone of a due diligence audit. These specialists are trained to thoroughly review the financial records of an organization for any discrepancies. Unlike traditional accountants, forensic accountants are specifically trained to search for fraud and hidden assets and debts. Our review involves, identifying legal and financial risks associated with investing in a particular business, preparing a report on the legitimacy of a target business and its assets and advice on minimizing investment risks.

• Internal audit services

HALA Consultants is specialized in Internal Audits which are primarily conducted in order to provide the client’s management a clear, comprehensive and unbiased analysis of the functional efficiency of the organization and to suggest possible areas for improvements. We HALA Consultants strongly believe in Internal Audits being a value addition exercise rather than a mere compliance exercise.

HALA Consultants firmly believes in providing value added services through highest levels of professional competency and integrity to its clients. Our Internal Audit services are designed to suit the individual client specific needs. It provides assistance to clients in managing their key business concerns, be it achieving strategic business goals, meeting operational challenges, complying with regulatory norms or managing reporting requirements. Our internal audits adopt “Risk Based Audit” (RBA) approach and other tools and techniques for accomplishing the audit objectives.

• Management audit

Management audits provide us with the organization with several & immediate advantages, as well as executive level supervision. Changes are growing more common and more sudden as the market world gets more dynamic. Therefore, it is of utmost importance to periodically evaluate the efficacy, performance, profitability and competitiveness of the business. Management Audit services seek to offer detailed, unbiased, credible and precise evaluations of the efficacy, performance, competitiveness and ability of the organization to respond to macro-environmental changes.

Taxation Services

Imagine walking around into your office, knowing your tax issues already handled by experienced team. With the change in global economy and as laws and regulations continue to make business more complex, the role of the accountant is changing to a more “trusted advisor”, meaning that accountants are becoming the “go to” people for holistic business advice.

We offer expert consultancy to Corporate, foreign Companies, individuals (both Residents and Non-residents). We are also dealing in filing Income Tax Return for various category of persons under the income tax act. We build tax policies that help our clients navigate current tax laws in compliance with regulations.

2.1        Payroll service

Think about how much easier your payroll compliance will be after handled to experienced team. Managing payroll isn’t just about paying salaries and wages to your staff, it's about staying compliant with applicable laws in Tanzania such as PAYE, Skills Development Levy (SDL), Workers Compensation Fund (WCF), and National Social Security Fund (NSSF).

Most of the businesses either lack knowledge or do not have enough time to stay updated with the latest rules and regulations of the local payroll. This is where outsourcing payroll services help. HALA Consultants, we help you do it right, accurately, timely and legally as required by applicable laws.

2.2        Transfer Pricing

Transfer pricing regulations were published for the first time in May 2014 (Government Notice No: 27). To provide assistance to support transactions to new documentation requirements, HALA Consultants will provide assistance in the preparation of transfer pricing documentation to meet the requirements as per Tanzania laws. We review the transactions between the associated parties reflect the total income or tax payable as if the arrangements were conducted at arm’s length.

2.3        Tax Health Check

A Tax Health Check is a comprehensive review and analysis of a business’s tax affairs to ensure compliance with relevant tax laws and regulations in Tanzania. HALA Consultants conducts a tax professional and aims at identifying potential tax risks, compliance gaps, and opportunities for tax optimization. It involves the review of the following taxes; exercise duty, corporate tax, employees’ taxes, Value Added Tax (VAT), stamp duty, withholding taxes and Skills Development Levy (SDL). A tax health check will add value into your company’s operations;

•             Will assist in identifying areas with great potential tax risk for enhanced focus and thus reduce tax exposure and avoid undue penalties and interest in the future.

•             Identify legitimate opportunities to reduce the overall tax burden (e.g. through deductions, exemptions, or incentives).

•             Will assist in identifying areas with potential strategic tax planning and opportunities that a company can take advantage of and optimize its tax position.

•             The exercise will mitigate surprises in case TRA conduct tax audit.

2.4        Training

We provide an annual budget review immediately after the annual budget which is aimed at giving our clients over view of the proposed changed and how they impact on various industries and the environment within which our clients operate.

Thereafter any follow procedures aimed at assisting a specific client or industry to understand or implement the changes can be arranged at the request of the client. Such training would be tailored to meet the specific needs of the client. We also hold seminars from time to time on tax issues.

2.5        Regulatory Filing

On establishment, all business organizations functioning in Tanzania are expected to file a business report for the timely enforcement of the respective separate laws for which they have registered themselves with the relevant government agencies in conjunction with the provisions of the relevant act and other reasonable rules therein. Non filing or late filing of documents attracts penal provisions. Avoid late penalties and interest, let us handle your monthly statutory returns for complete peace of mind for your business and allows management to focus on company’s growth rather than spending more time on resolving potential tax issues.

Monthly statutory returns under different government authorities

PAYE return filling                                        SDL Return filling                        NSSF return filling

WCF return filling                                        WHT return filling                        City service return filling

VAT return filling