Subsidiary legislation and legal notices under the income tax act and the value added tax act. Deductions under chapter vi a section 80c, 80d, 80e. Taxation as understood today was introduced in east africa by the early british. File income tax, get the income tax and benefit package, and check the status of your tax refund. An assessee, whose income is taxable at higher rates will have more tax savings i. Uganda budget ighlights 01920 income tax corporate tax, paye, wht definition of beneficial owner changed to mean a natural person who owns or has a controlling interest over a legal person and exercises control over the management and policies of that person or a legal arrangement, directly or indirectly through ownership. Uganda, all the bills will become law on 1 july 2018. Extent to which the income is distributed to participants in the collective investment scheme.
Who will be affected nonresident entities in uganda. This act may be cited as the income tax amendment act 2014, and commences on the pt day of july 2014. The act came into force on 1 july 2016, and therefore its application is retrospective. When 1 july 2016 our view section 885 is an antiabuse provision aimed at preventing use of conduit. Once on the legislation pages, simply look out for the icon to access the download link. This book offers a comprehensive and practical account of the legal and technical aspects of income tax in uganda. The tax legislation covered in this reproduction include. Income tax act 90 of 1988 income tax amendment act. Tables, charts, practical examples and question and answer sections are included. This alert summarizes the key reforms contained in each bill. To download, simply navigate to or search the legislation using the search field above. A new tax law, income tax act, 2015 act 896 was passed in september 2015 to administer direct taxes. Personal, business, corporation, and trust income tax.
The income tax amendment act 2016 was assented to on 19 november 2016. Income tax act 58 of 1962 south african government. The impact of deductions available under various sections of income tax act is not same for all. Income tax act, 2015 act 896 income tax amendment act, 2015 act 902 income tax amendment act, 2016 act 907 income tax regulations, 2016 l. View income tax act uganda from accounting 2743 at business management training college pty ltd. Details of the proposed measures are summarized below. Section 20 of the principal act is amended by substituting for paragraph athe followinga areexempt from customs duty under thefifth schedule of the east african community customs management act, 2004 except compact fluorescent bulbs with a power. The president declined to assent and referred it to the parliament for further debate and amendments. Income tax management act, which laid down the basic legal provisions found.
File corporation income tax, find tax rates, and get information about provincial and territorial. Act income tax amendment act 2019 acts supplement no. We have provided a downloadable pdf version for each of the legislations we have in this library. An analysis on the income tax act 2015 by diana kasabiiti. Venture capital companies registered with the capital markets uthority in rwanda benefit from a a corporate income tax at the rate of 0% for a period of five years from the date the decision has been. Calculate business or professional income, get industry codes, and report various income types.
Printed by uppc, entebbe by order of the government. Part iii income tax base division i calculating the income tax base subdivision a total income 5. An act to make provision for the charge, assessment and collection of income tax, for the ascertainment of the income to be charged and for matters incidental thereto. An act to repeal and replace the nongovernmental organisations act cap. Chapter 470 income tax act arrangement of sections part i preliminary section 1. Ugandasourced income is clearly defined for purposes of the income tax act. The income tax amendment act, 2016 uganda business. Tax on payments to nonresident contractors or professionals. A guide on tax incentivesexemptions available to investors in uganda income tax exemptions who qualifies conditions for granting exemption collective investment scheme must be licensed to operate as a collective investment scheme. This replaces the internal revenue act 2000 act 592, which was passed in 2001 and the various amendments to. These are the fundamental laws to be read in conjunction with their respective regulations and finance acts. The nongovernmental organisations act, 2016 arrangement of sections part ipreliminary section 1. Directorship of the company is defined as employment under section 2z ii of the income tax act. Tax on payments to nonresident public entertainers or sports persons.
Acts 2016 parliament of uganda the parliament of uganda. Limit the enjoyment of treaty benefits to persons who. To provide for withholding tax by a seller of a business or business asset. Practice notes under the ita and vata issued by the commissioner general of the uganda revenue authority. Consolidate the laws relating to income tax simplify the income tax law provisions and make it user friendly address various forms of tax base erosions on employment income, gift tax. Ghana pkf assurance, audit, tax, advisory and business. This act applies to years of income commencing on or after 1st july, 1997. Income tax amendment act, 2017 uganda legal information. General provisions relating to taxes imposed under. Estimates of rental income the bill proposes to require the minister of finance to prescribe via statutory instrument estimates of rent for rental properties, based on the rating of the property in the specific location. To provide for an offence and a penalty for failure to obtain a tax. Tier 4 microfinance institutions and money lenders act 2016. An act to consolidate and amend the law relating to income tax and for other connected purposes.
It depends upon applicable tax rates as per the total taxable income and status of assessees. Companies must file a return of income each year by 31 december following the end of the tax year. The income tax amendment bill, 2016 parliament watch. The fiscal year in uganda runs from 1 july to 30 june. Uganda budget insight 2016 the story behind the numbers. Issues covered are deductions allowed and not allowed, income tax returns, assessments and tax rates and appeals and objections against assessment. The income tax act hereinafter referred to as the principal act is amended in section 2 cap. Domestic tax laws uganda 1 preface this handbook containing an uptodate reproduction of ugandas principal tax laws is intended for use by tax administrators, tax practitioners, taxpayers, students and any interested persons. The income tax act also provides for different persons who are assessable for tax.
The income tax act, in this act referred to as the principal act, is amended in section 2 by a inserting immediately after paragraph e the following ea beneficial owner means a natural person who owns or has a controlling interest over a legal person other. All air prevention and control of pollution act, 1981 apprentices act, 1961 arbitration and conciliation act, 1996 banking cash transaction tax black money undisclosed foreign income and assets and imposition of tax act, 2015 central boards of revenue act, 1963 charitable and religious trusts act, 1920 charitable endowments act, 1890. The act introduces the following changes to the income tax act ita. Income tax act ita cap 340, the income of a savings and. South african institute of chartered accountants integritax newsletter income tax and vat acts online the income tax act, 1962, valueadded tax act, 1991 and other tax acts may be accessed on the sars website the consolidated income tax act is available, in a pdf version, under the tax heading on the university of pretoria, laws of sa consolidated legislation website. National taxes and levies apply in all ten regions of the country. Based on this, the remuneration to a director who is a member of a board of directors for a company situated in uganda would be subject to tax in uganda. The tax amendments are in respect of the income tax act, vat act, excise duty act, 2014, the tax procedure code act, 2014, stamp duty act, tax appeals tribunal act, traffic road and safety act and the lotteries and gaming act, 2016. Uganda has a residence based system of taxation, i. Income from businesses where foreign exchange loss or gain is realized. The uganda income tax amendment bill 2016 the bill was passed by the parliament on 14 april 2016. Income tax act uganda free ebook download as pdf file.
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