Early this week, the Tax Justice Alliance Uganda (TJAU) submitted a Position Paper on the Tax Amendment Bills for the Financial Year (FY) 2024/25 to the Parliamentary Committee on Finance for.
Early this week, the Tax Justice Alliance Uganda (TJAU) submitted a Position Paper on the Tax Amendment Bills for the Financial Year (FY) 2024/25 to the Parliamentary Committee on Finance for.
The Income Tax (Amendment) Bill, 2023, is proposing to restrict the carrying forward of losses to five years. This might affect infrastructure-intensive businesses.
Daily Monitor
Thursday April 15 2021
Summary
Addressing the media at their head office on Tuesday, Mr Joel Ssenyonyi, the NUP spokesperson, said they want government to account for all revenues collected from the existing tax measures.
Advertisement
Opposition National Unity Platform (NUP) party leaders have rejected the proposed taxes and accused the government of being insensitive to the plight of those suffering as a result of the Covid-19 pandemic.
Addressing the media at their head office on Tuesday, Mr Joel Ssenyonyi, the NUP spokesperson, said they want government to account for all revenues collected from the existing tax measures.
“It is not that we are against taxation, what we need to know is how this money is being used. In other countries like the US, deductions on people’s salaries can go to as high as 50 per cent but as long as they are sure that when they go to hospitals, they will find medicine,” Mr Ssenyonyi said.
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.