What is Excise duty? Excise duty is a tax on consumption of specified goods and services. It is collected to generate revenue as well as regulate consumption of certain goods and services by making them slightly expensive. It is also collected on imported items some of which can be manufactured in Uganda. In this way, …
FY 2022-23 VAT is an indirect tax on consumption charged on value added to taxable supplies at diff erent stages in the chain of distribution. In Uganda, VAT is imposed on the supply of goods and services (taxable supplies) made by a taxable person, other than exempt supplies; and imports other than exempt imports. KEY …
Introduction EFRIS in full is Electronic Fiscal Receipting and Invoicing Solution. EFRIS is an initiative under the Domestic Revenue Mobilization Program whose aim is to address the tax administration challenges relating to business transactions and issuance of receipts. It is a new smart business solution used to record business transactions and share the information with …
Electronic Fiscal Receipting and Invoicing Solution Read More »
DEFINITION OF KEY TERMS Rental Income Total amount of rent derived by a person for the year of income from the lease of immovable property (land and or buildings) in Uganda with the deduction of any expenditure incurred in respect of the property. Landlord or Landlady This is any person who lets out immovable property …
Customs Clearance Procedures The importer delivers goods to the Consolidator of his/her choice (Shipper) in the foreign country (e.g. China, UAE) together with all the documents showing the nature of the packages, description of the items as well as the invoices, packing list. The individual importers must provide details of their names, contacts and Tax …
EXPORT OF GOODS This is a process of taking goods and services from Uganda to a foreign country. This process is subdivided into the two (2) categories below; A. Intra Region Cargo (Transfers): Cargo is traded within East African Community partner states Process x A declaration is made in the country of importation’s Customs System …
KEY CONCEPTS Customs valuation Customs Valuation is the process of determining the value of imported goods for taxation purposes. Customs Value This is the value of imported goods for the purposes of levying/calculating ad valorem Customs duties and taxes. x For Goods imported using road rail and marine transport modes, the customs value is a …
URA will issue you with a TIN through your email address given at the point of application. A TIN: Is a unique 10-digit numeric number starting with 1 and is used for all tax purposes a person is registering for. Diff erentiates one taxpayer from another and is supposed to be quoted on all business …
