Uganda Revenue Authority recently came up with a policy which requires people to disclose their sources of income in transactions involving acquisition of property worth Shs 50 million and above.

DP deputy spokesperson Kenneth Paul Kakande says they are not opposed to the Government’s efforts to tax income, but only concerned about the politics behind the policy.

Kakande says the policy aims at failing indigenous entrepreneurs who the Government perceives as political opponents.

Kakande further says that it is in the same criteria that the Government used to fail Greenland Bank and Sembule Group of companies.

He adds that such policies are only applicable in command economies, but not the liberal ones like Uganda .

Ultimate Media

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The Commissioner of Uganda Revenue Authority (URA) in charge of domestic taxes, Moses Kajubi has asked Ugandans to pay their income taxes on time.

He says all corporate taxpayers whose accounting date is 31^{st December should remit their first installment of the provisional income tax and submit the final returns for the period 31st December 2010 by Wednesday, 30th June 2010. This is contained in a press release signed by Kajubi URA has issued today in Kampala.}

URA boss Allen Kagina

“This is to remind all taxpayers that the last quarterly provisional payments for individual income taxes for F-Y 2009-2010 should be remitted to URA by Wednesday 30th, June 2010,” the press release signed by Kajubi says.

It says all corporate taxpayers whose accounting date is 30th June should remit their last provisional payments by Wednesday this week without fail.

Kajubi urges the taxpayers to avoid last minute rush, penalties, and interest associated with failure to file returns on time, late filling and payment by paying now.

By Walakira Nyanzi, Ultimate Media

The post URA asks Ugandans to pay income tax on time first appeared on Uganda Multimedia News & Information.