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Shs5 trillion lost in tax exemptions, incentives

According to the government tax expenditure report, incentives, reliefs and exemptions were more visible in international trade taxes, value added tax and income tax

Where does money borrowed by govt go ?

Daily Monitor Monday May 10 2021 Summary Ms Regina Navuga, the in-charge for Financing for Development Programme at Southern and Eastern Africa Trade, Information and Negotiations Institute (SEATINI-Uganda), in a separate interview, said Uganda is not the only country facing fiscal deficit. Advertisement Uganda is unable to exclusively finance its ambitious infrastructure projects from domestic revenues due to a narrow tax base. Officials said the tax revenues are lower than 16 per cent of the Gross Domestic Product (GDP), the average for African countries. Part of the problem, according to experts, is the government’s failure to effectively tax and collect revenues from the informal sector that roughly accounts for half of Uganda’s economy.

Proposed taxes will increase cost of doing business

Proposed taxes will increase cost of doing business Tuesday April 13 2021 Passenger Service Vans in Kampala. The government is planning to re-introduce an annual licence by July this year following the Traffic and Road Safety Act Amendment Bill 2021. PHOTO/EDGAR R. BATTE Summary Revenue targets. Government hopes to raise at least Shs400 billion from 10 Tax (Amendment) Bills 2021 in the quest to meet revenue targets in an economy where the Covid-19 pandemic has battered collections. Advertisement On April 1, Finance Minister Matia Kasaija proposed a raft of tax amendments, most of which tax analysts say if passed in their current form, will deepen the tax burden.

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