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URA Registers Shs210B PAYE Surplus Resulting From Employee Promotion And Recruitment

URA Registers Shs210b PAYE Surplus Resulting From Employee Promotion And Recruitment

Uganda Revenue Authority has registered a sh210.02 billion surplus on Pay as You Earn (PAYE) for the period July 2020 to April 2021. This happened as a result of the public sector recruiting and promoting employees. Apparently, the authority also registered an increase in PAYE collections by sh61.91 billion. This increase was attributed to the payment of bonuses and higher ...

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Experts Foresee More Headwind For The Shilling

Experts Foresee More Headwind For The Shilling

During its last trading session last week, the Ugandan shilling remained on the back foot, touching the technical levels of 3605/3615. The shilling received pressure from substantial demand for dollars from commercial banks, the energy and manufacturing sectors. There seemed to be a similarity between the local unit trend and its peers in the region. The Kenyan and Tanzanian currencies ...

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Government Launches Recovery Fund For SMEs Affected By Covid-19

Government Launches Recovery Fund For SMEs Affected By Covid-19

The Ministry of Finance has joined hands with the Bank of Uganda and the Uganda Bankers Association to launch a recovery fund for SMEs. The bodies launched a shs 200 billion to pull back afloat small and medium enterprises that were affected by Covid-19. During the launch on Tuesday, Matia Kasaija said the recovery fund will assist Uganda’s business community ...

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Matia Kasaija: I Will Not Clear Supplementary Budgets For Ministries That Are A Stone In The Shoe

Matia Kasaija; I Will Not Clear Supplementary Budgets For Ministries That Are A Stone In The Shoe

Matia Kasaija, the Finance Minister has said he is no longer clearing supplementary budgets for ministries that are just a stone in a shoe. According to him, ministries should be able to make proper Budgets rather than wait to make supplementary budget. He said this while at the budget conference at Kololo grounds “Many times you find that they have ...

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Opinion: How Offshore Financing Is Aiding Corruption In Poor Countries

How Offshore Financing Is Aiding Corruption In Poor Countries

In the Transparency International’s Corruption Perception Index (CPI) released for the year 2020, which rated the perceived levels of public sector corruption in 180 countries around the world, most of the African countries, especially those in Sub-Saharan Africa, were included in the “Highly corrupt” category. The top-ranked countries on the CPI were mainly from Europe, North America and Australasia. And ...

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