This is to notify you that, the purchase of Marine Insurance (Ground, Air, Rail and/ or Sea imports) has to be purchased from a Locally registered Tanzanian Insurance Company as opposed to the current model which importers can choose to insure the cargo with an international insurance company.
This is accordance with the Section 133 (3) of the Insurance Act No. 10 of 2009 as amended by Section 42 of the Written Laws (Miscellaneous Amendments) Act, 2017 require that ground, marine and air cargo insurance covers for Tanzania imports be effected by a Tanzanian insurer.
Penalty
In case of the imports without any Local Marine Insurance, the Tanzania Revenue Authority (TRA) as per the Customs Law and Regulations will charge a levy of 1.5% on the value of the imported goods. The penalty is almost 3 to 4 times a Marine Insurance Policy rate and thus would not make commercial sense for you to import without Marine Insurance.
In regards to this new law, you can only purchase vehicles bound to Tanzania from us on Cost and Freight (C&F) bases only.
Please note that, the sellers will not be able to arrange for Marine Insurances from Japan.
To purchase Marine Insurance please visit the Tanzania Imports Insurance Portal using the link below and procure one from any of the allowed local insurance companies.
https://www.tiip.co.tz/
For more information please contact Tanzania Insurance Regulatory Authority (TIRA) or call them on +255(22) 2132537+255(22) 2116120+255(22) 2116131.
Kind regards,