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Tag Archives: tax

URA collects Shs5.4trillion in first quarter of FY2022/23

But it reported revenue shortfall in withholding tax, temporary road license and export levy | THE INDEPENDENT | Uganda Revenue Authority collected net revenue amounting to Shs5.4trillion against a target of Shs5.1trillion for the three months ending September 30, representing a Shs286billion surplus. This represents a 105.58% improved performance and …

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URA’s nine-month tax collection hit Shs15.4tn

Finance ministry expects the tax agency to collect Shs22.3trillion in FY2021/22 Kampala, Uganda | JULIUS BUSINGE | Total tax collections for the nine months of FY2021/22 increased by Shs 1.4 trillion to Shs 15.4trillion compared to the same period last financial year, but fell short of the Shs16.5trillion target. The …

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Minister withdraws amendments to Finance, URA Act

Kampala, Uganda | THE INDEPENDENT | The Minister of State for Finance- General Duties, Henry Musasizi has withdrawn two tax Bills from parliament. The House has approved his request. The Bills are the Finance (Amendment Bill), 2022, and the Uganda Revenue Authority (Amendment) Bill, 2022. Under the Finance (Amendment Bill), 2022, the …

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Finance Committee divided over rental tax proposal

Kampala, Uganda | THE INDEPENDENT | Legislators on Parliament’s Finance Committee on Friday disagreed over a proposal by government to impose a flat rate of 12 percent on the gross rental income of individuals for a year of income. The proposal is under the Income Tax (Amendment) Bill, 2022 currently being …

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Gov’t fails to spend UGX2Trillion amidst revenue shortfall

Kampala, Uganda | THE INDEPENDENT | The Uganda Revenue Authority posted a revenue shortfall of 690.3 Billion Shillings in the first four months of the 2021/22 financial year with all tax-heads registering shortfalls except stamp duty. This meant that the government also had to adjust expenditure programs in line with the …

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Farmers seek tax changes in fish Bill

Kampala, Uganda | THE INDEPENDENT | The Uganda Commercial Fish Farmers Association (UCFFA) has appealed for changes in the new Fisheries and Aquaculture Bill, 2021. The farmers want Parliament to repeal the provision within the Bill that attaches a tax to movement of farmed fish which they said is already catered for …

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