The Association decided to offer the free medical procedure to ailing but vulnerable children as the Indian Community in the country marks 100 years of existence in Uganda. This year also marks 50 years of the expulsion of Indians from Uganda in August 1972 when President Idi Amin accused them of "milking the country" through capital flight and exporting profits and revenue from their operations in the country.
Companies whose income is less than Shs 500m a year will be allowed to delay payment of corporation taxes by six months. The country will waive interest on tax arrears to lessen businesses’ tax liability obligations to the government.
Premaz Kirabo Mayega was for scraping the tax. Tusime Peter wonders what will happen to those who had paid the 1. George Mugwanja said tax should be simple and easily collected. Henry Othieno wonders why we do not tax the multinationals. Hackim Niwazy, commends my message but informs me that they are taxing mere deposits. I have been following up all these issues for a long time. Here are my comments on each of the points:
In the coming days, the Minister of Finance will announce the financial support we intend to give to the groups that wish to join the manufacturing in the form of the enhanced micro-finance efforts and the Innovation in addition to the Women Fund, the Youth Fund and Operation Wealth Creation Fund.
Uganda Revenue Authority (URA) continues to register an increase in tax collection shortfall for the financial year 2013/14. The shortfall has increased to 331 billion Uganda Shillings in the ten months to March 2014, up from 270 billion in the eight months to February 2014. According to Protazio Begumisa, the acting Commissioner General URA, the shortfall has been largely due to the low profitability and losses posted by at least 347 major companies in Uganda.
The Uganda Revenue Authority (URA) is still lagging behind on its revenue collection targets for the financial year 2013/14. The tax body revealed yesterday that in the eight months of the financial year the revenue collection deficit has grown to 270.8 billion Uganda Shillings.
Vendors in Usafi Market at Kalitunsi in Katwe, a Kampala suburb, continue to wait buyers with some staring at empty stalls more than two months after the first phase of the market was opened. The market, a liaison between SAFINET Developers and Kampala Capital City Authority (KCCA), was opened early February but traders have to do with empty stands as they hope that customers will trickle in.