URA TIGHTENS MEASURES ON TAX BRIBERY.

 According to the measures, making false or deceptive statements attracts a great no longer exceeding sh4m or imprisonment no longer exceeding 10 years or both on conviction.

As the brand new taxes take impact, the Uganda Revenue Authority (URA) has tightened measures to make sure tax compliance and minimize sales losses.

The URA Commissioner General, John Musinguzi, has reminded the general public that a person, who at once or circuitously offers a tax officer any unlawful charge, commits an offence and is vulnerable to a satisfactory not exceeding sh3m or imprisonment now not exceeding six years or each, upon conviction.

He said the flow is geared toward curtailing sales loss within the zone.

According to the measures, making fake or deceptive statements draws a excellent no longer exceeding sh4m or imprisonment now not exceeding 10 years or both on conviction.

Those who knowingly or recklessly fail to apply for registration, cancel a registration or notify the commissioner of a trade in registration or instances, devote against the law and are prone to a nice no longer exceeding sh3m or imprisonment not exceeding six years or both.

It is also against the law to go into into any settlement with a tax officer to connive or hide statistics about sales collection.

Upon conviction, the person could be vulnerable to a quality now not exceeding sh3m or imprisonment now not exceeding 6 years or each.

Persons who impersonate a tax officer are susceptible to a quality no longer exceeding sh2m or imprisonment no longer exceeding six years or each.

Boosting nearby production, advent of employment, supporting nearby and overseas funding, easing the burden of tax compliance and encouraging compliance,” Musinguzi stated.

He stated for earnings tax exemption for agro-processing, the Government has amended the law and has narrowed it only to specific sections in the quarter and could most effective be applicable if positive situations as to investment threshold and utilization of regionally sourced raw substances, employment of citizens and their earnings are met.

The Government has capped as much as seventy five% of allowable deductions for expenditure and losses incurred in producing condominium income. 

Other tax measures encompass a 5% levy on processed gold exported out of doors Uganda and a ten% levy on unprocessed minerals exported out of Uganda. 

The government has also introduced a levy of $zero.8 consistent with kilogram of leaf tobacco, that's exported out of Uganda further to eight% levy on fish maw exported out of Uganda.

The new measures also ban issuance of any license or any shape of authorization vital for purposes of accomplishing any enterprise in Uganda to any individual who does now not have a tax identification range.

Musinguzi said the authorities has blanketed extra offences regarding tax stamps which might entice fines and or imprisonment.

Its now the governments responsibility to enforce the new rules as they have been imposed.

More tightening with revenue will be continuously made for the better collection of the revenue.