#UGBudget14 117. Madam speaker, a lot of businesses in Uganda are operating informally making it difficult to apply the normal income tax regime on them. A presumptive tax system was developed for them but the rates of tax on their income have not been revised since 1997. I propose to increase the presumptive tax threshold from 1% to 3% to raise revenue. This measure is expected to generate Shs.8 billion.
Posted on: Thu, 12 Jun 2014 13:59:30 +0000
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