Uganda: Grant of Tax Waiver to Companies Queried

Background

The Uganda Tax Authority (URA) recently granted tax waivers to certain companies that had filed disputes with the authority. According to sources, the grant of tax waivers is meant to promote economic growth, create jobs, and boost investment in the country. The tax waivers are effective from January 1st, 2023.

Companies eligible for tax waivers

The following types of companies are eligible for tax waivers:

• Newly established companies: Companies that have been operating for less than two years are eligible for tax waivers.
• Startups: Startups that meet the required criteria set by the URA are also eligible for tax waivers.

Requirements for tax waivers

To be eligible for tax waivers, companies must meet the following requirements:

• Compliance: Companies must be in full compliance with all tax regulations and laws.
• Investment: Companies must have made significant investments in the country.
• Job creation: Companies must have created jobs for Uganda citizens.

Purpose of tax waivers

The primary purpose of granting tax waivers is to:

• Promote economic growth: Tax waivers are intended to promote economic growth by incentivizing companies to invest and operate in Uganda.
• Create jobs: By granting tax waivers, companies are encouraged to create more jobs for Uganda citizens.

Conclusion

The grant of tax waivers to certain companies in Uganda is aimed at promoting economic growth and creating jobs. Eligible companies must meet specific requirements, including compliance, investment, and job creation.

FAQs

Q: What is the purpose of granting tax waivers?
A: The primary purpose of granting tax waivers is to promote economic growth and create jobs in Uganda.

Q: Which companies are eligible for tax waivers?
A: Newly established companies, startups, and companies that meet the required criteria set by the URA are eligible for tax waivers.

Q: What requirements must companies meet to be eligible for tax waivers?
A: Companies must be in full compliance with all tax regulations and laws, make significant investments, and create jobs for Uganda citizens.