Articles by Category - Tax
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
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.
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.