The Minister of State for Finance, Henry Musasizi, has requested that Parliament provide a tax waiver of up to a tune of Ugx 13.313 trillion owed by several individuals and some universities.
In a statement released to the parliament committee on finance, planning, and economic development regarding tax waivers for the financial year 2023-2024, Musasizi requested that they provide a tax waiver of Ugx. 13.313 to some individuals and organizations.
“I request for parliament’s approval to remit a number of tax liabilities in accordance with Section 40(2) of the Tax Procedures Code Act,” Musasizi said.
He noted that the tax liabilities in question are Makerere Business Institute, Nkumba University, Busoga University, Donati Kananura, Peter Lokwang, M/s Nicontra Limited, and J2E Investment Corporation Ltd.
The Tax Procedures Code (TPC) Amendment Act, 2023, was recently passed, providing an amnesty for waivers of interest and penalties. This act of benevolence is similar to what we saw in 2007 when Uganda implemented its first tax amnesty programme under the Finance Act of 2007.
