Tag Archives: tax

Kampala, Uganda | THE INDEPENDENT | Parliament imposed a tax on companies reporting losses for more than seven years with 50% of the losses carried forward now being subject to tax in new amendments to the Income Tax Act. During the House sitting on Tuesday, 11 July 2023, Members of Parliament …

Ronald Musoke explains why five years of consultations have failed to re-negotiate Double Taxation Agreement Kampala, Uganda | RONALD MUSOKE | The Netherlands has been one of the top ten sources of foreign direct investments (FDI) for Uganda since the two countries signed the treaty in 2004. Today, there are about …

Kasese, Uganda | THE INDEPENDENT | The Business community in Kasese District has asked Uganda Revenue Authority-URA to create adequate awareness to enhance tax compliance. They say that there has been a huge gap in communication and information dissemination and if not addressed it will be difficult for the tax body …

Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority is blaming politicization of revenue collection in the Ugandan public, as one of the reasons affecting compliance with tax obligations hence low revenue collections in the country. Though the amounts collected increase regularly, URA has always failed to achieve its set targets, …

But directors have recommended a dividend of Shs2.5 per share payable in September this year which is higher than Shs2 per share paid last year. Kampala, Uganda | JULIUS BUSINGE | Pharmaceutical manufacturing company Cipla Quality Chemical Industries Limited has reported a 21% decline in profit after tax from Shs24bn in …

Kampala, Uganda | THE INDEPENDENT | MTN Uganda Group has called for a review of the taxation policy for digital money transitions, specifically the levy on the withdrawal of cash at mobile money agents. In 2018, the government introduced four levies on digital services including mobile money transactions, causing a public …

Kampala, Uganda | THE INDEPENDENT | Following pressure from the House, the Attorney General has revealed that government will challenge the interim orders exempting payment of taxes on gold exports. Kiryowa Kiwanuka made the disclosure while responding to concerns raised by legislators on a waiver issued by the Ministry of …

The company expects to experience an increase in capital expenditure owed to sustained investment to boost growth Kampala, Uganda | THE INDEPENDENT | MTN Uganda has announced a 20% growth in profit after tax for the first quarter of this financial year to Shs 120.6bn and said it maintains a full-year …

Kampala, Uganda | THE INDEPENDENT | Parliament has passed the Lotteries and Gaming (Amendment) Bill, 2023 that will revise the existing tax of 20 per cent under the existing law to 30 per cent for a gaming activity. Clause 48(1) of the Lotteries and Gaming Act, 2016 states that ‘an …

Kampala, Uganda | THE INDEPENDENT | Legislators approved a tax on diapers and rejected a proposal to exempt payment of taxes on adult diapers. This was contained in the Value Added Tax (Amendment) Bill, 2023 which the lawmakers passed on Thursday, 04 May 2023. The Bill proposed an exemption on payment …