“Introduce an export levy of 7 per cent on the value of fish maw exports, Impose an export levy of 5 per cent and 10 per cent on processed and unprocessed gold and other minerals respectively,”.
Lugoloobi s budget - FULL SPEECH
Thursday June 10 2021
State minister for planning, Amos Lugoloobi pictured at Kololo ahead of budget reading on June 10, 2021. PHOTO/ PARLIAMENT
Summary
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Speaker Jacob Oulanyah informs the House that Hon Amos Lugoloobi will present the budget on behalf of the President.
Hon Amos Lugoloobi has just been appointed as State Minister for Finance awaiting vetting by the Appointments Committee.
Uganda’s per capita income is increasing steadily. In Financial Year 2015/16 it was US$ 808 and is projected to increase to US$ 932 in Financial Year 2020/21.
Coffee remains the leading agricultural export earning US$ 497.4 million in the Financial Year 2019/20. Dairy exports fetched US$ 204.5 million, while Tea exports earned US$ 71 million in Financial Year 2019/20.
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.