The Uganda Revenue Authority together with the Ministry of Finance, Planning and Economic Development on Monday held a seminar to help tax payers understand what they are up against in the budget that was read last week.
“We are here to help the ordinary person understand how the budget affects you,” URA Commissioner General Doris Akol told the audience. at Hotel Africana in Kampala (live feed below).
9AM – SESSION STARTS
Dickson Kateshumbwa, URA Commissioner Customs, outlines new taxes effective July 1 with focus on imports/ International trade
He announced that URA will from July 1, start issuing Certificate of Origin.
Kateshumbwa said several taxes removed to help the construction, mining, health and education sectors. Nearly all machinery in the agriculture sector also removed.
The health sector has also been boosted. Taxes on several equipment down, so are vehicles to help boost transport sector.
URA will in next year focus on reducing cost of doing business, including introducing one-stop-clearing centres at Katuna, Malaba and Busia. “This should cut down 50% time wastage at the borders,” Kateshumbwa said.
He said government is soon piloting an Electronic Single Window.
“We ask the public to report any issues of delays by clearing agents, let us know. We want to make Uganda a good investment destination,” he concluded.
- TAXES down
All LED Bulbs and lamps – VAT down starting July 1, 2016
Agriculture Machinery exempted
Furniture for hospitals
Import duty not to be charged on imports from COMESA
- Maternity (mama) kit to be zero rated (Import duty)
- TAXES up
Ready to drink spirits
Sugar tax sh50 to sh100
Motor vehicle lubricants duty from 5% to 10%
- TAX exemptions on these
Cesspool emptiers and Concrete Mixers pulled by a prime mover import duty applicable at 0%
Base Oil import duty applicable at 0% for one year
Maternity (mama) kits to be zero rated (Import duty)
Henry Martin Saka URA Commissioner Domestic Taxes
- A buyer of a motor vehicle required to notify URA about change of ownership within 3 months.
- Changes made on Company mergers
- New policy to reduce double taxation
- Amendments in income tax related to petroleum industry
- Employees of diplomatic communities/locals to announce earnings
- NO VAT on goods used on donor aid projects
- There has been re-classification of items like wheat and light bulbs
- Refund of excise duty in approved health care products
URA administrative measures related to budget, focus on
- Wrong registration details to be cleared up
- Failure to amend registration details
- Registration of business for fraud purposes
- No licence for business without a TIN
- Taxpayer Registration Expansion (TREP)
- Unregistered business