Articles by Department - Commercial Transactions
In March this year, just as Uganda was grappling with the early days of the COVID-19-enforced lockdown, the Uganda Retirement Benefits Regulatory Authority (URBRA) issued new regulations, the Uganda Retirement Benefits Regulatory Authority (Management and Operation of Retirement Benefits Schemes) Regulations, S. I. No. 43 of 2020.
Operators in the telecommunications sector have been notified by the regulator, the Uganda Communications Commission (“UCC”), that effective 1st July 2020, the new licensing framework will come into force.
The new licensing framework introduces the following key licenses:
• NTO – National Telecom Operator license, covering telecom infrastructure and services operations across Uganda;
SOPHIE NAKITENDE VS MABU COMMODITIES LIMITED - HIGH COURT CIVIL SUIT NO. 117 OF 2016
The High Court in Uganda has pragmatically revisited the Landlord - Tenant relationship by faulting a Landlord’s arbitrary use of force to seize a tenant’s trading stock and lock up premises for alleged non-payment of rent without a written Tenancy Agreement in place or a lawful court order.
Mr. Isaac Walukagga of M/s MMAKS Advocates represented Ms. Sophie Nakitende (“the Tenant”) in this matter.
PROPOSED AMENDMENTS TO THE TAX LEGISLATION IN UGANDA -TAX AMENDMENT (BILLS), 2020
The Hon. Minister of Finance, Planning and Economic Development presented to Parliament the Tax Amendment Bills 2020 on 31st March 2020 with proposed changes to Income Tax, Value Added Tax, Excise Duty and Stamp Duty. We summarize the key proposed changes in this Alert.
INCOME TAX (AMENDMENT) BILL, 2020.
a) Minimum tax payable by a loss making person
The COVD-19 Pandemic has affected various aspects of business world over. This is a compilation of frequently asked questions in relation to the legal implications of COVID-19 in Uganda in the areas of;
B. REAL ESTATE & CONSTRUCTION
F. GENERAL QUERIES
G. DATA PROTECTION
I. BANKING & FINANCE
K. CYBER SECURITY
The Security Interest in Movable Property Act, 2019 (the ‘’Act’’) and the Security Interest in Movable Property Regulations, 2019 (the ‘’Regulations’’) came into force on 30th May 2019. This Act is one of the most significant statutes to impact the taking of security in Uganda.
The Act is far reaching as it requires many types of existing securities that have already been registered to be re-registered under the Act for the security to be effective against a liquidator, administrator or third parties.
Incorporating/ Registering a Company:
Investment vehicles in Uganda take on various forms including among others single member companies, private limited liability companies, incorporated and unincorporated joint ventures, partnerships and trusts. The most common vehicle for investment is the private limited liability company.
More often than not, when you walk into a shop or supermarket and pick up an article, it will clearly confirm that it is made or assembled in China, England, Kenya and so on. This is indicative of international trade.
Every country is endowed with different resources and each has a peculiar comparative advantage over the other. It therefore goes without saying that no country is completely self-reliant.
A Mauritian company has sued the Uganda Revenue Authority (URA) seeking a declaration that the assessment raised against them is illegal.
The Plaintiff received dividends from a Ugandan company with tax withheld at 10% as a benefit under the Mauritius Uganda Double Taxation Agreement (DTA), instead of at the usual withholding tax rate of 15%. Following a request for information by URA, it came to light that the Mauritian entity was held entirely by a Kenyan resident. The Mauritian company's only economic activity in Mauritius was to hold the shares in the Ugandan company.
In June 2012, the High Court of Uganda delivered a ground-breaking judgment regarding interalia execution of mortgages by mortgagees and unconscionable interest rates.