• EDITORIAL POLICY
  • ABOUT US
PML Daily
No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
PML Daily
No Result
View All Result
Home BUSINESS

URA cows down on tax certificate before UGX. 50m bank transfers

JAVIRA SSEBWAMI | PML Daily Staff WriterbyJAVIRA SSEBWAMI | PML Daily Staff Writer
November 1, 2019
24 0
22
SHARES
349
VIEWS
FacebookWhatsAppTwitter
URA Commissioner General Doris Akol says that compliance with the earlier circular will no longer be a requirement t this time (PHOTO/File)

KAMPALA – Uganda Revenue Authority (URA) has backed down on a decision in which it had directed commercial banks and other money transfer firms not to transfer money amounting to UGX50 million outside without a tax certificate.

Doris Akolo, the Commissioner General URA in a letter dated October 31 to Commercial Banks, says that compliance with the earlier circular will no longer be a requirement t this time.

She added that the new communication supersedes the earlier one issued by the Commissioner Domestic taxes.

Mr Henry Saka, the URA Commissioner for Domestic Tax, in an earlier letter to Director for Supervision at Bank of Uganda, had said that the implementation of the directive was in line with the Income Tax Act.

Uganda now remains one of the countries that operate a free capital account, where investors bring in their money and can take it out anytime they want.

Previously, URA had sought powers to monitor people’s bank accounts to see how much money goes and whether it rhymes with the taxes declared.

This was vehemently rejected by the public.

Related

Leave a comment

Tags: topUganda Revenue AuthorityURAURA Commissioner for Domestic Tax

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Advertisement

About

The PML Daily, published via www.pmldaily.com is a publication of Post Media Ltd, a professional Digital/New Media company in Uganda.

Follow us



  • EDITORIAL POLICY
  • ABOUT US

© 2022

No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines

© 2022

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist