Muntu argued that farmers are exploited by commercial banks that give loans with high interest rates, which in turn hinders them from gaining from agriculture since the money they earn ends up in repaying loans and interest.
The bill, which is before the Finance Committee of parliament, seeks to impose local content obligations on persons using public money or Uganda’s natural resources or carrying out activity requiring a license, to priorities Ugandans in Public Procurement, ensure skills and technology transfer and provide for development of local content plans.
Gillian Twesigye, the Kamwenge District Commercial Officer, notes that while compiling the report, they discovered that poverty and incompetent leaders were among the major causes for the collapse of the Saccos.
Abuka noted that although placing a charge on mobile money withdrawals would increase revenue, the tax is inefficient, uncertain and complex. He explained that the mobile money levy goes against tax policy
Why do we have to borrow or beg from outside or even borrow from within We do so because many people who are supposed to pay tax do not pay the tax. How do we know this We know this by using the standard measurement used all over the World. This is the GDP: tax ratio. This means the amount of taxes paid compared to the size of the GDP, the size of the economy.