Dar es Salaam, Feb. 5 -- DODOMA: MINISTER for Finance Dr Mwigulu Nchemba has informed the House that the government does not incur any loss when a company changes its name in the country.

However, he said, if the change in the companys name involves the sale of shares, such context will necessitate the payment of a capital gain tax to the government.

According to TRA, a person who owns an interest in land or building shall be treated as realising the asset when the person parts with ownership of such interest including when it is sold, exchanged, transferred, distributed, canceled, redeemed, destroyed or surrendered and in the case of interest of an entity when it ceases to exist, immediately before the entity ceases to exist.

The Inco...