By Florence Namuganza URA in partnership with the Insurance Regulatory Authority (IRA) announced in May 2022, that all cargo imported into Uganda by sea, air, rail, road or registered post must be insured by local insurance companies. This new business process took effect on 1st July, 2022. Although, the notice attracted mixed feelings from the …
Local Marine Cargo Insurance Presents Relief for Importers Read More »
By Florence Namuganza The advancement of technology and internet have transformed the way businesses operate, and ushered new trends in transactions. However, this progression has also been misused by unscrupulous individuals as a mechanism to dodge taxes through vices like; document forgeries, invoice trading, missing traders, sales suppression, EFRIS system tampering, and code misclassification. This …
How URA is using Forensics to Counter Revenue Leakages Read More »
By Immaculate Wanyenze Despite the outbreak of the COVID 19 pandemic and other global crises that affected the economy, the Ugandan taxpayer has not blurred their ambition to contribute their fair share of revenue. An Interim Report indicates that last Financial Year 2021-22, URA collected UGX 21,659.44 billion – the biggest collection in the history …
URA registers highest growth in the Financial Year 2021/22 Read More »
By Annet Nantongo Uganda Revenue Authority (URA) will start collecting Value Added Tax (VAT) from non-resident electronic services provider companies operating in the Ugandan economy, effective July 1, 2022. URA issued a public notice on January 27, 2022 notifying all non-resident suppliers of electronic services to collect, file and pay this tax. These services include …
Uganda Set to Collect Taxes from Digital Economy Read More »