According to the Auditor General’s report of the financial year 2014/15, the ministry of finance failed to recover 744.4 million Uganda shillings from BIDCO in form VAT.

Masaka Municipality MP Mathias Mpuga

Committee member MPs who included; Masaka municipality MP,  Mathius Mpuuga ,Woman MP Agago district, Franca Akello and Angelina Ossege, Soroti district  wondered how BIDCO which was  given 260,000 hectares  of free land is defaulting on taxes.
MPs also noted that the same company is about to be given more 6000 hectares of land at areas around Lake Victoria for palm oil growing after the investor threatened to walk out if more land is not allocated for this project.

The MPs said that the expenditure on BIDCO in terms of land is too much on to country’s economy and they demanded the ministry of finance to avail to the committee the period given to BIDCO as tax incentive.

The legislators said  BIDCO Uganda’s failure to clear Value Added Tax (VAT) worth 744 million Uganda shillings when it’s provided with free land for growing palm oil seeds for oil extraction in Kalangala and other areas is a disservice to government which provides all these other conducive avenues for it to do business in the country.

MPs were interfacing with the officials from the ministry of finance led by the ministry’s undersecretary Betty Kasimbazi at the committee chaired by Soroti district woman MP Angelina Ossege.

According to the Auditor General’s report of the financial year 2014/15, the ministry of finance failed to recover 744.4 million Uganda shillings from BIDCO in form VAT.

Committee member MPs who included; Masaka municipality MP,  Mathius Mpuuga ,Woman MP Agago district, Franca Akello and Angelina Ossege, Soroti district  wondered how BIDCO which was  given 260,000 hectares  of free land is defaulting on taxes.

MPs also noted that the same company is about to be given more 6000 hectares of land at areas around Lake Victoria for palm oil growing after the investor threatened to walk out if more land is not allocated for this project.

The MPs said that the expenditure on BIDCO in terms of land is too much on to country’s economy and they demanded the ministry of finance to avail to the committee the period given to BIDCO as tax incentive.

The post MPs put BIDCO Uganda on the spot for evading taxes worthy over 700 million shillings first appeared on Uganda Multimedia News & Information.

BIDCO palm trees nursery

The farmers in Kalangala district under their association, Kalanagla Oil Palm Growers Association say that they are cheated by buyers because BIDCO company has not commutated the standard price for the palm seeds.

The Kalangala Oil Palm Growers association Chairperson Ms. Namulindwa Justin says that BIDCO is the giant buyer of palm in the area but it is reluctant on providing after sale services to the producers of the raw materials.

She adds that buyers walk around the farmers offering different prices meaning that BIDCO offers good prices to them (buyers).

The farmers have threatened to abandon growing of the plant if BIDCO management does not communicate good and standard prices for their harvest.

By Nabula Baluku

The post Palm growers dissatisfied with BIDCO low prices first appeared on Uganda Multimedia News & Information.