Articles by Category - Tax
Written by: Timothy Masembe| Isaac Walukagga | Flavia Suubo
The Head of State on the 2nd June 2022 assented to a number of amendments to the country’s tax regime. Some of these changes have far reaching ramifications to Foreign Investors, Tax Practitioners, and the Business Community generally. The changes shall take effect on the 1st July 2022.
We set out below a summary of the amendments to the different tax laws.
The Tax Amendment Bills, 2021 that were assented to by the President on 29th May 2021 came into force on 1st July 2021. The amendments are geared toward improving tax administration, reducing tax leakages, and enhancing revenues collected by the Tax Authority.
The purpose of this Alert, as set out below, is to summarize the key provisions of the amendments and their potential effect on taxpayers.
The Income Tax (Amendment) Act, 2021 introduces the following changes to The Income Tax Act (Cap 340).
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.