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Tag Archives: ura

URA to assess impact of tax exemptions

Kampala, Uganda |  THE INDEPENDENT |  The Uganda Revenue Authority- URA has commissioned a study to gauge the impact of tax exemptions on the economy. The study will influence policy changes in the next financial year. Government provides tax exemptions especially in areas of Agriculture, manufacturing, construction, information and communication technology , …

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MPs ask government to teduce domestic borrowing

Kampala, Uganda |  THE INDEPENDENT |  Members of Parliament have asked the government to reduce domestic borrowing as a means to finance the budget saying it will crowd out the private sector. The MPs were today meeting the Ministry of Finance and the Uganda Revenue Authority (URA) to consider two loan …

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Government approves UGX 2 Trillion Tullow farm-out deal

Kampala, Uganda | THE INDEPENDENT | Government has finally allowed Tullow to sell all its stake in Uganda’s oil and gas sector to French oil giant Total E&P. Tullow in a statement on Wednesday announced that the Ministry of Energy and Uganda Revenue Authority approved the deal valued at $575 million …

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Court agrees to dismiss Basajjabalaba’s petition against tax bill

Kampala, Uganda | THE INDEPENDENT | A panel of five Constitutional Court Justices have dismissed a petition in which businessman Hassan Basajjabalaba’s company, Haba Group Uganda Limited had challenged tax imposition on its 169 billion shillings compensation. The money had been awarded to the company by the government following the cancellation …

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Tullow under debt pressure

Oil and gas explorer says ‘potential liquidity shortfall’ threatens ability to pass lenders’ test | THE INDEPENDENT | Tullow Oil plc has warned it risks defaulting on a debt facility if it does not resolve a potential liquidity shortfall, as it slumped to a $1.4 billion pre-tax loss for the …

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