Tag Archives: ministry of finance

Kampala, Uganda | THE INDEPENDENT | The Criminal Investigations Department has identified cases of fraud and forgeries by managers of saving schemes that were meant to benefit from the teachers revolving fund. These were unearthed as part of the investigations into the embezzlement of 11 out of the 25 billion Shillings …

Kampala, Uganda | THE INDEPENDENT | The new leadership at the Ministry of Trade, Industry and Cooperatives want the Ministry of Finance, Planning and Economic Development, and the Bank of Uganda, to stay away from the management issues of the cooperative sector. The State Minister in Charge Cooperatives, Frederick Ngobi Gume …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance, Planning and Economic Development and the Uganda Revenue Authority have agreed that there is a need to quickly centralize the collection of government revenues within the East African Community. Article 32 of the EAC Common Market Protocol provides for the harmonization …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance, Planning and Economic Development says one of the main reasons as to why the government introduced a 12 percent Excise duty on internet use was to trap Ugandans who were evading OTT by using Virtual Private Networks (VPN). The Over the …

Kampala, Uganda | THE INDEPENDENT | The newly introduced tax measures have generated mixed feelings and fortunes for taxpayers and the general public as a whole. Several tax measures and amendments to the tax laws have been completed and are due to take effect starting July 1, 2021. According to the …

Kampala, Uganda | THE INDEPENDENT | The Central Bank has challenged the Ministry of Finance, Planning and Economic Development against the current high rates of borrowing, saying they are putting the country and the economy at risk. The national debt burden is currently estimated at UGX 64 trillion as of December …

Kampala, Uganda | THE INDEPENDENT | The Uganda Revenue Authority (URA) revenue collection targets for the next three years are far from achievable, with the tax body facing several challenges according to officials. This is a repeat of what has been happening for most of the previous short and midterm strategies …

Kampala, Uganda | THE INDEPENDENT | The Uganda economy is projected to grow by 3.1 percent this financial year, according to the Ministry of Finance, Planning and Economic Development. Before the outbreak of COVID-19, the government had projected the economy to grow by 6.3 percent, but this was disrupted when Uganda and …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance, Planning and Economic Development has said the new $900 million (about 3.1 trilling Shilling) loan government plans to borrow from the International Monetary Fund -IMF will not cause a substantial increase of Uganda’s rising public debt. Responding to questions at Uganda Media …

Takaful is a co-operative system of reimbursement in case of loss, organized as an Islamic or sharia compliant alternative to conventional insurance Kampala, Uganda | THE INDEPENDENT | The regulations that will guide the establishment of Takaful, the kind of insurance that employs Islamic principles for members to contribute money into …