Economy

Uganda loses about sh 1trillon annually in leather sector exports due to inefficiencies, Makerere University Don Prof John Kabasa has said. Speaking at inter-university conference on leather and leather products at Kyambogo University, Kabasa said despite the huge demand for leather products on global scale Uganda still hovers behind in leather exports and lacks capacity to increase production and technology ...

Meera Investments Limited, a subsidiary of the Ruparelia Group, tops the list of 25 compliant companies that were ranked best by the Uganda Revenue Authority (URA) in paying rental income tax in the financial year 2018/19 that saw the Authority beat the target by Shs258.89 billion to collect a total of Shs16.6 trillion in taxes to government. URA’s public notice ...

The Ministry of Local Government has launched Local Economic Growth Support (LEGS) project that will up lift rural flocks from abject poverty. The project will to be implemented in 12 districts will address water for production, agriculture production, infrastructure and food security. According to the Minister of Local Government,Tom Butime, the $43million project  funded by Islamic Development Bank will benefit ...

Civil Society fraternity are demanding for urgent guidelines on tax waiver offered to private companies by government. They argued that current system and procedures implemented by government is too weak to prevent loss of tax payer’s money. “We demand for transparent and accountable guidelines to handle tax waivers. The current system being implemented by government organs is not clear,” Julius ...

Uganda Revenue Authority (URA) has named 817 companies that invading taxes since 2017 hence making the tax body fail from achieving tax collection targets. Cyprian Chillanyana, Assistant Commissioner Domestic Taxes and Business Policy in Uganda Revenue Authority named these companies while briefing the media in Nakawa. These companies include Munyonyo Commonwealth Resort Limited which declared a loss on 48.6 billion ...