Income tax primarily relates to profits or gains arising from business activities, property ownership and employment. While there are general principles applied in determining what is taxable, overall, a tax…
Weeks back, I read a tweet that went like this; “I asked some boda guy why he parked within a roundabout, and he said you can’t be orderly in an…
The Income Tax(Amendment) Act 2023 has repealed Section 27A of the Principal Act which provided for initial allowances as a fiscal policy geared at enabling investors in industrialisation and manufacturing…
Capital gains arise when you sell an asset for more than you originally bought it. There are two kinds of assets in the Income Tax Act; a depreciable asset and…
The Tax Procedures Code (Amendment Bill) 2023 which was published in the Gazette of 30th March 2023 has many novel amendments but this commentary focuses on the proposed amendment to Section 42 of…
The Tax Procedures Code (Amendment) Bill 2023 has a number of provisions that attempt to correct the complications and injustices related to the waiver of penalties and interest that has…
The Income Tax Bill published on 30th March 2023 is spectacular in that it attempts to make dramatic reforms in tax. Apart from doing away with the incentive for investors…
By John Rujoki Musinguzi Last week, I together with my counterparts of the revenue authorities in the East African Community, met for the 48th East African Revenue Authorities Commissioners General…
Uganda Revenue Authority (URA) during the Q1 FY2020/21 (July to September 2020), took in UGX 4,070.3 billion in tax revenue, against a target of UGX 2,999.8 billion. This is 135.7…
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