Shs710b in rental tax uncollected annually
Friday May 28 2021
Summary
Speaking during the Tax Forum CEO Breakfast meeting in Kampala, Ms Connolly-LaBelle, said about 92 per cent of rental income is not taxed, which denies government close to Shs710b.
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Only 8 per cent of rental tax is collected, which leaves the larger majority of rental income untax, according to Ms Jaye Connolly-LaBelle, the RippleNami chairperson and chief executive officer.
Speaking during the Tax Forum CEO Breakfast meeting in Kampala, Ms Connolly-LaBelle, said about 92 per cent of rental income is not taxed, which denies government close to Shs710b.
Ms Connolly-LaBelle, whose company signed a contract with government last year to develop technology through which collection of rental tax can be maximised, did not explain how she had arrived at the figure.
Daily Monitor
Tuesday May 25 2021
A customer uses a visa card to complete a transaction online. Online businesses will have to incur more costs due to the new 12 per cent levy on data bundles in the next financial year. PHOTO/ FILE
Summary
Tax burden. Beginning July 01, Internet users, motorists and consumers of both alcoholic and non-alcoholic beverages will be required to dig deeper into their pockets to fund the national budget’s expenditure after Parliament on April 30th endorsed a range of government’s proposed taxes in a frantic move to raise revenue to fund its expenditure.
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The two arms of government the Executive and Parliament, should be more mindful about their actions, particularly when dealing with touchy issues of taxation, given its implication on the cost of doing business, the economy and livelihoods.
FTA conducts 2,707 field inspection visits
ABU DHABI, 2 hours, 3 minutes ago The Federal Tax Authority (FTA) has conducted more than 2,707 field inspection visits in cooperation with the competent authorities through 35 inspection campaigns across UAE markets in the first quarter of 2021. FTA Director-General, Khalid Ali Al Bustani, confirmed that the sophisticated, cutting-edge tools adopted by the Authority during inspections enable inspection teams to d accurately carry out their tasks through the latest field electronic mechanisms which correspond to best practices. This contributes to tightening controls on UAE markets to prevent the sale, circulation, and stockpiling of products that have not fulfilled their Excise or Value Added Tax (VAT) obligations.
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