Marlee

TZS (Tanzanian Shilling) Definition.

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The Tanzanian shilling is the official currency of Tanzania. It is subdivided into 100 cents. The shilling was introduced in 1966, replacing the East African shilling. Is the Tanzanian shilling a stable currency? The Tanzanian shilling is not a particularly stable currency, and has been known to experience significant fluctuations in value. However, it has … Read more

Section 988.

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Section 988 is a section of the US tax code that deals with foreign currency transactions. It was added to the tax code in 1978 in order to prevent US taxpayers from using foreign currency to avoid paying taxes. Under Section 988, any gain or loss from a foreign currency transaction is treated as a … Read more