Finance minister, Matia Kasaija has said the government has introduced some taxes to raise revenue and announced that the import duty on agricultural products have been increased to 60 per cent and other products to 35 per cent.

The minister further said modest adjustments to tax rates that have been made include the excise duty rate on fuel; and adjustments to improve competitiveness in the region, support compliance, remove ambiguities in the legislations as well as close loopholes that may lead to revenue leakage.

"The modest adjustments to tax rates that have been made include the excise duty rate on fuel; and adjustments to improve competitiveness in the region, support compliance, remove ambiguities in the legislations as well as close loopholes that may lead to revenue leakage," he said.

Mr Kasaija appealed to Ugandans not to look at paying tax as a burden before explaining that tax administration will be strengthened to improve efficiency in revenue collection, pointing out that the capacity of local governments, including the roll-out of the digital collection of fees and rates, will also be enhanced to improve local revenue generation.

Mr Kasaija said digital stamps will also ensure that goods on the market meet the required health and safety standards; Widen the scope of the income tax withholding agents across all sectors in order to broaden the tax base; Enhance rental income tax collection and compliance by implementing a digital collection solution, as well as gazette rental income tax chargeable in different geographical areas for taxpayers who do not voluntarily declare their rental income.

Wakanda News Details

VACCINE TEASE

You may also like

Spirituality Facts

Sports Facts

Martin Luther King Jr. Facts

Martin Luther King Jr - Mini Bio

Barack Obama Facts