Assessing Uganda's business tax system | MorningAtNTV
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- čas přidán 14. 04. 2024
- The Ugandan government is proposing a 10% increase in spending to Shs 58.3 trillion for the upcoming FY 2024/25, amid concerns about budget cuts, including for Parliament. The Ministry of Finance, Planning, and Economic Development has outlined strategies to boost tax revenues in the next financial year, pending parliamentary approval. These strategies involve amendments through five key tax legislation bills: the Excise Duty Amendment Bill, 2024; the Stamp Duty Amendment Bill, 2024; the Income Tax Amendment Bill, 2024; the Value Added Tax Amendment Bill, 2024; and the Tax Procedures Code Amendment Bill, 2024. These amendments are currently under review by the House Committee on Finance, chaired by Amos Kankunda. Notable proposals include introducing an Excise Duty Tax of Shs 500 on each 50 kg bag of cement, as well as on adhesives, grout, white cement, or lime. Additionally, the government plans to impose a 10% tax or Shs 75, whichever is higher, on mineral water, bottled water, and other types of drinking water. Moreover, under the proposed Excise Duty Amendment Bill 2024, the government aims to adjust the duty on fuel products, with increases in duty for Motor Spirit (petrol), diesel, and kerosene. Joining us to discuss the economic implications of these proposed changes are Mark Ruhindi, a tax lawyer; Robert Ssuuna, an economist; and John Walugembe, Editor at FSMES.
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Excellent conversation. Two things were missing: (i) a representative from URA to address the concerns and criticism raised, and (ii) a discussion on how to motivate people to pay taxes given the high rates of corruption and extravagance by the government (e.g. 500m payouts to MPs for dubious reasons).
I finally thank you Mr. Ruhindi. Ranching and milk selling is an economy on itself but these individuals have decided not to tax those guys. There is something wrong going on.
The new technology should not be a problem if you access it from a statical numbers that have smart phones and have active accounts with WhatsApp
And actually even small business want to pay taxes. If you can tell me many Ugandan can afford smart phones all those can be on this new technology
Kudos to the lawyer for telling it as it is. Ugandan businesses must formalize and also adopt best practices.
Non of you never talks about WHT
If any one can give me how many people in uganda are on Whatsapp and I will tell you that is taxation platform will work
J
A wrong group to discuss the matter. You books people please please give us a break. Business people know what they are talking about. Rujoki Rujoki is the biggest problem period. If it had been Kagina i bet whethet there would be problems with EFRIS enforcement.