Summary
Under the new directive, all transactions involving the transfer of high-value assets must be supported by verifiable digital payment records before ownership transfers can be approved by the relevant authorities.
DODOMA: THE government has announced that, effective July 1, 2026, proof of digital payment will be mandatory for the transfer of major assets, including land, buildings and motor vehicles, in a move aimed at strengthening financial transparency and accountability.
Minister for Finance, Ambassador Khamis Mussa Omar, made the announcement on Thursday while presenting the 2026/27 National Budget to Parliament in Dodoma.
Under the new directive, all transactions involving the transfer of high-value assets must be supported by verifiable digital payment records before ownership transfers can be approved by the relevant authorities.
The minister noted that public institutions responsible for processing ownership transfers will be required to verify digital payment evidence as part of the approval process.
The institutions tasked with enforcing the measure include the Ministry of Lands, Housing and Human Settlements Development, the Tanzania Revenue Authority (TRA), the Business Registrations and Licensing Agency (BRELA), and other relevant regulatory bodies.
According to Ambassador Omar, the initiative is designed to promote formal financial transactions, enhance transparency and improve the government’s capacity to monitor and track transfers of valuable assets.
He added that the measure forms part of broader efforts to expand the use of digital payment systems across the country, curb tax evasion and strengthen compliance with financial regulations.
The government also expects the policy to improve efficiency in the administration of property ownership records while supporting the country’s ongoing digital transformation agenda.
The new requirement is anticipated to increase the use of electronic payment platforms and create a more reliable audit trail for high-value transactions, thereby reinforcing accountability in asset ownership transfers.
