Kampala, Uganda | THE INDEPENDENT | Mobile money transactions hit the Shillings 7.2 trillion in March 2020 from Shillings 3.4 trillion in 2016. The Finance Minister Matia Kasaija disclosed this while presenting the 2020/2021 financial year budget estimates to parliament. He explained that the Information, Communication and Technology (ICT) sector …
Read More »Industrial sector grew by 2 percent- Kasaija
Budget 2021 summary ✳ Resource envelope Sh45.5 trillion ✳ Revenue Sh21.8 trillion ✳ Uganda GDP Sh138 trillion ✳ Uganda GDP rate +3.1% ✳ Electricity output 1254MW ✳ Paved roads 5600km ✳ National IT backbone, 49 districts ✳ Internet bandwidth $70/Mbps ✳ UDB 1trillion injection ✳ Domestic arrears pay 673bn ✳ VAT …
Read More »BUDGET: Gov’t to cut billions off travel, focus on agriculture
#UGBUDGET20 ✳ Sh45.5 trillion ✳ Cuts on travel, conferences ✳ Security Sh4.5 trillion ✳ Works Sh5.8 trillion ✳ Govt to borrow Sh11trillion ✅ 2020 – Sh45 trillion ✅ 2019 – Sh40 trillion ✅ 2018 – Sh32 trillion ✅ 2017 – Sh22 trillion ✅ 2016 – Sh20 trillion Kampala, Uganda | …
Read More »Experts welcome tax waiver on agricultural inputs
Kampala, Uganda | THE INDEPENDENT | The move by the government to waive taxes on most agriculture products has been welcomed as a positive step. Finance Minister Matia Kasaija is expected to announce the removal of the 18 percent value-added tax (VAT) on all the tools used in the garden …
Read More »Museveni rejects ‘unclear’ loans amounting to UGX 1.4 trillion
Kampala, Uganda | THE INDEPENDENT | President Museveni has rejected a loan of 1.4 trillion shillings ($400m) accusing the Ministry of Finance of lack of seriousness. This is part of the 3.5 trillion Shillings request that the Minister of Finance Matia Kasaija sought in January. Of this, 596 billion Shillings …
Read More »Uganda hires US mapping firm to improve rental tax collection
Kampala, Uganda | THE INDEPENDENT | An American company, RippleNami Inc has been contracted to help in the collection of rental tax in Uganda. The company will identify properties, their owners and link them to the URA tax identification number system according to the Ministry of Finance. In a statement, …
Read More »Expect no direct financial stimulus – Kasaija
Kampala, Uganda | THE INDEPENDENT | The Finance Minister Matia Kasaija has said that the government does not have a provision for any fiscal stimulus for businesses that have been affected by the impacts of the COVID-19 pandemic. Several economists and players within the private sector have been calling upon the …
Read More »Gov’t to allow companies delay payment of taxes
Kampala, Uganda | THE INDEPENDENT | Some companies will be allowed to delay payment of taxes like Pay As You Earn and corporation taxes to remain in operation. Medical items required in the fight against the virus including masks, protective goggles, body bags and sanitizers, infra-red thermometers and motorized fumigation pumps …
Read More »Parliament approves UGX 45.5 Trillion National Budget
✅ 2020 – Sh45 trillion ✅ 2019 – Sh40 trillion ✅ 2018 – Sh32 trillion ✅ 2017 – Sh22 trillion ✅ 2016 – Sh20 trillion Kampala, Uganda | THE INDEPENDENT | Parliament has approved a 45.49 trillion Shillings Budget for the financial year 2020/2021. The estimates show an increase of …
Read More »Finance Committee asks government to suspend new tax measures
Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance has been tasked to consider suspending all new tax measures for the coming financial year 2020/2021 to help Ugandans cope with the effects of coronavirus pandemic. The request was made by the Finance Committee of Parliament during an interface with Minister …
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