Tax controversies have recently stirred debate across the country, with the country’s tax body – the Uganda Revenue Authority (URA)—and the National Treasury struggling to justify certain tax breaks to particular companies while in the National Assembly.
In a new twist, the two agencies are now pushing for government approval of a Shs23b tax plan for the eight firms requesting for the following tax waivers. These include: J2E investment Corporation Limited (Shs2.7b), Donati Kananura (Shs1.7b), Peter Lokwang (Shs385.1m), Makerere Business Institute (Shs239.3m), Nkumba University (Shs4.5b), Nicontra Ltd (Shs932m), Busoga University (Shs783.2m million) and Kisiizi Hospital Power Ltd (Shs77.7m). “In a new twist, the two agencies are now pushing for government approval of a Shs23b tax plan for the eight firms requesting for the following tax waivers. ”
This article appeared in The Daily Moniton on Sunday, September 22, 2024 Continue Reading: https://www.monitor.co.ug/uganda/business/finance/government-urged-to-put-breaks-on-tax-incentives-to-companies-4771500#story