Tag Archives: tax

Kampala, Uganda | THE INDEPENDENT | MTN Uganda’s income tax paid to the government increased to 48.1 billion Shillings in the first quarter of this year, as the network’s subscriber base jumped to 17 million. In the same quarter (January to March) 2022, the company paid 43.2 billion Shillings, amidst …

New Delhi, India | XINHUA |  Indian government’s revenue through gross Goods and Services Tax (GST) collected in a single month touched the highest ever figure of 1.87 trillion Indian Rupees (22.88 billion U.S. dollars) in April, announced the federal Ministry of Finance on Monday. The federal government introduced the …

Kampala, Uganda | THE INDEPENDENT | Parliament has resolved to investigate the circumstances under, which the Minister of Energy and Minerals waived tax payment of  sh573 billion in gold exports. The motion, moved by the Leader of Opposition (LOP), Mathias Mpuuga on Tuesday, called for the formation of a select …

Kasese, Uganda | THE NDEPENDENT | The Uganda Revenue Authority-URA is rallying the business community in Kasese to utilize the voluntary tax disclosure program in order to meet their target obligations. Under the Voluntary Disclosure process, a taxpayer discloses information relating to tax liabilities, omissions, or misstatements and declarations to Uganda …

Kampala, Uganda | THE INDEPENDENT | The Minister of State for Finance (General Duties) Henry Musasizi, has defended the proposal to impose a 5% tax on the gross income earned by international digital companies in Uganda. Musasizi alongside other officials from the Ministry of Finance appeared before Parliament’s Finance Committee …

Players warn that the move could discourage the growing savings culture Kampala, Uganda | JULIUS BUSINGE | Over the past few years, Uganda started experiencing a surge in the local population, especially youth interested in saving, growing their capital for future investments through the Unit Trust Funds. This is because Unit …

Kampala, Uganda | THE INDEPENDENT | PostBank has announced its financial results with a 19% increase in net profit for the year ended December 31st, 2022. The state-owned bank reported a net profit of UGX. 15.1 billion, a solid year-over-year growth of 19.3% up from the UGX. 12.2 billion net profit …

Arua, Uganda | THE INDEPENDENT |   Arua Central Division Council has proposed to levy an annual fee of 12,000 Shillings on Boda Boda operators. This is part of the local revenue enhancement measures for the next financial year. The new tax proposal is contained in the draft budget estimates of …

The tax authority collected Shs11.6tn in the six months, recording a Shs95bn shortfall   Kampala, Uganda | JULIUS BUSINGE | Uganda Revenue Authority collected Shs11.6trillion against the target of Shs11.7tn for the first six months of the financial year 2022/23 – representing 46.4% of the annual target. URA’s Commissioner General John Rujoki …

Windhoek, Nambia | Xinhua | Namibia’s Ministry of Finance and Public Enterprises has announced that the Value Added Tax (VAT) Amendment Act, 2022 will come into effect on Jan. 1, 2023. The amendments to the Act include the reclassification of the supply of sanitary pads as a zero-rated supply, said Wilson Shikoto, …