Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority – URA is concerned that it will forego up to Sh2 trillion in tax expenditures in the next financial year. The URA Commissioner General, John Musinguzi, revealed this on Thursday while appearing before Members of Parliament on Parliament’s Committee of Finance …
Read More »Former URA tax officer remanded for causing Sh9 billion loss
It is alleged that between January 2021 and December 2021, Tumusiime reduced tax worth 4.5 billion shillings for several companies Kampala, Uganda | THE INDEPENDENT | The Anti Corruption Court in Kampala has remanded Dennis Tumusiime, a former Uganda Revenue Authority Tax Officer to Luzira Prison on charges of abuse …
Read More »Parliament sets conditions for Bujagali tax waiver
Kampala, Uganda | THE INDEPENDENT | Bujagali Energy Limited (BEL) will refund US$342 million to the Ugandan government for overpaid fees subject to a forensic audit by the Attorney General. This is after Parliament chaired by Speaker Anita Among on Wednesday, 15 March 2023 adopted the report of the Adhoc …
Read More »Review taxes on internet, devices-CSOs
This comes at a time parliament is now involved in coming up with a proposed budget for the next financial year Kampala, Uganda | THE INDEPENDENT | Ugandan government need to review taxes on internet and internet-enabled devices such as smartphones ahead of the proposed national budget for the Financial Year …
Read More »Creative industry should contribute to the national revenue basket
Where the artist is a freelancer and is hired by a promoter, events manager or another artist, the person who hired their services is required to withhold 6% of the amount paid to the artist if the artist is Ugandan based COMMENT | Sarah M. Chelangat | Over the last two …
Read More »How to fulfill your tax obligations with ease
COMMENT | Sarah M. Chelangat | For years, tax compliance has eluded the tax man with slightly over 2 million taxpayers out of a population of 20 million working adults contributing to the tax base. Of the 2 million registered taxpayers, 50% are companies doing business in Uganda. This means a …
Read More »Helpful terms to know about before starting a business
SPECIAL FEATURE | BUSINESS | Starting a business is no easy task. There are so many things to consider – from the initial planning stages to marketing and advertising your business, to maintaining it once it’s up and running. One of the most important aspects of starting a business is …
Read More »Uganda’s GDP growth slows to 4.9% as import taxes decelerate – Absa 2022 Q2 Macro-economic analysis report
Uganda’s real GDP expanded 4.9% y/y in Q2 22, marginally weaker than the prior quarter’s 5.1%, following a marked moderation in import taxes. The pace of growth is anticipated to slow in H2 2022 as households navigate a higher inflation and lending rates environment. Economic growth will average about 4.3% …
Read More »Uganda’s fiscal deficit is worrying: Minister Musasizi
Kampala, Uganda | THE INDEPENDENT | The State Minister for Finance in charge of General Duties, Henry Musasizi has raised concerns over the country’s high fiscal deficit saying it’s worrying. Parliament in May this year passed a budget of 48.1 trillion shillings for the financial year 2022/23. However, out of the total …
Read More »Two URA employees awarded UGX 400m for torture
Kampala, Uganda | THE INDEPENDENT | Two Uganda Revenue Authority employees have been awarded 400 million Shillings as compensation for the torture they were subjected to while in detention. The two employees; Robert Asiimwe Akanga, a Customs Officer and driver Stevens Kalenga were separately arrested on allegations of stealing USD …
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