Object and purpose of the act 1 the object and purpose of this act is to provide uniform procedures for. Act income tax amendment act 2019 b in subsection 1 by substituting for paragraph af the following af the income of an operator in an industrial park or free zone or other person carrying on business outside the industrial park or free zone who carries on. Issues covered are deductions allowed and not allowed, income tax returns, assessments and tax rates and appeals and objections against assessment. It was mainly payable by the europeans and asians but was later on extended to africans. This act may be cited as the income tax act, 1973 and shall, subject to the sixth schedule, come into operation on. The stamp duty ammendment bill 2020 get to know the roles of your member of parliament. Tax laws uganda s income tax act establishes a category of exempt organizations which includes those that are of a religious, charitable, educational, or public character. Tax compliance certificate means a certificate issued by the commissioner if satisfied that the person.
By law, under all circumstances, ministry of finance, planning and economic development should have responded by now. Income tax act applies, the accounting period of the taxpayer. The income tax transfer pricing regulations 2011 under sections 90 and 164 of the income tax act cap 340 in exercise of the powers conferred upon the minister by section 164 of the income tax act cap. Carrying forward of tax losses the act introduces an amendment to section 38 of the ita which clarifies that the ability to carry forward tax. Section page contents division one 111 income tax act, 1961 page u arrangement of sections i3 u text of the income tax act, 1961 as amended by the finance act, 2011 1. This article helps both individuals and hotel owners understand local service tax in uganda. The changes to the income tax act announced in this years budget aimed at bringing more workers in the informal sector into the tax bracket, means the monthly pension contributions are set to increase. General provisions relating to taxes imposed under. This act shall be deemed to have come into force on 1st july, 2015. Although great care has been taken to ensure that it reflects the correct wording and numbering of the income tax act, cap. Income tax act 2015 revised up to 31st october 2019 disclaimer the income tax act 2015 revised to 31st october 2019 is produced for frcs internal purpose only and is not intended to be reproduced or transmitted in any form or by any means other than this purpose. Uganda wildlife research and training institute act 2015. Form 1040 department of the treasury internal revenue service 99 u.
Uganda, all the bills will become law on 1 july 2018. Income tax act, 2015 3 income tax act, 2015 act 896 48. This book offers a comprehensive and practical account of the legal and technical aspects of income tax in uganda. To provide for withholding tax by a seller of a business or business asset. Text of remaining provisions of allied acts referred to in income tax act 1.
Income tax and vat acts online the income tax act, 1962, valueadded tax act, 1991 and other tax acts may be accessed on the sars website. The value added tax act, 2014 the port service charges act cap 264 the motor vehicle tax registration and transfer. Income from businesses where foreign exchange loss or gain is realized. Income tax act 90 of 1988 income tax amendment act 99 of 1988 income tax act 70 of 1989. Taxation in uganda at grant thornton, we appreciate the unique nature of tax law and the fundamental principles. Missed opportunities and prospects for statebuilding research pdf available april 2015 with 3,078 reads how we measure reads. Income tax amendment act, 2017 uganda legal information. Domestic tax laws uganda 1 preface this handbook containing an uptodate reproduction of uganda s principal tax laws is intended for use by tax administrators, tax practitioners, taxpayers, students and any interested persons. The uganda revenue authority administers the tax laws acts on behalf of the ministry of finance, planning and economic development under the following legislation regulating taxes. Download income tax laws text book pdf for, mba and. Income tax refers to the tax you pay directly to the government depending on your income or profit for companieslocal authorities. This alert summarizes the key reforms contained in each bill. The income tax transfer pricing regulations 2011 under sections 90 and 164 of the income tax act cap 340 in exercise of the powers conferred upon the minister by section 164 of. The consolidated income tax act is available, in a pdf version, under the tax heading on the university of pretoria, laws of.
Foundations can be registered either under the trustees incorporation act or as companies limited by guarantee under the companies act chapter 110. Tax administration act 2015 an overview 12 august 2015 in brief the tax administration act taa 2015 passed by parliament on 27 march 2015 and assented to on 11 may 2015 came into force on 1 july 2015. Part iii income tax base division i calculating the income tax base subdivision a total income 5. The act amends the income tax act to define an exempt.
The consolidated income tax act is available, in a pdf version, under the tax heading on the university of pretoria, laws of sa consolidated legislation website. This act may be cited as the income tax amendment act 2014, and commences on the pt day of july 2014. Description tax on resident deriving income from uganda tax on nonresident deriving income from uganda dividends 15% 15% interest payments 15% 15% professional fees 6% 15% interest payments on government securities 20% 20% payment of reinsurance premiums 15%. The income tax act hereinafter referred to as the principal act is amended in section 2 cap. An act to introduce currency point system in tax administration. Income tax amendment act 2015 section 6 to act 9 of 2015 page 7 b shares in a company, or an interest in a partnership or trust, if the shares or interest derive 50% or more of their value, directly or. Parliament watch uganda is a virtual tracker that monitors the. Income tax act 58 of 1962 south african government. Subsidiary legislation and legal notices under the income tax act and the value added tax act.
The income tax amendment bill, 2015 parliament watch. Some changes may arise when the finance bill 2015 and subsequently the finance act 2015 are published. All air prevention and control of pollution act, 1981 apprentices act, 1961 arbitration and conciliation act, 1996 banking cash transaction tax black money undisclosed foreign income and assets and imposition of tax act, 2015 central boards of revenue act, 1963 charitable and religious trusts act, 1920 charitable endowments act, 1890. Occupational and personal pensions scheme general regulations 2011, l. Uganda has a residence based system of taxation, i. Income tax act, 2015 9 act 896 4 the income tax payable by a person under subsection 1b is calculated by applying the relevant rate set out in the first schedule to each final withholding payment.
The reprint consolidates the income tax act, cap 340, the value added tax act, cap 349 and statutory instruments made. Furnishing of paye returns it is now a requirement for every employer who withholds tax from a payment of employment income to furnish a withholding tax return for every month, not later than 15 days after the end of the month to which the withholding tax relates for all employees liable to tax. Act income tax amendment act 2019 2 a resident person who purchases a business or business asset shall withhold tax at a rate specified in part viii of the third schedule. Act income tax amendment act 2019 acts supplement no.
This book is useful for ca, ipcc group 1 students and for b. These are the fundamental laws to be read in conjunction with their respective regulations and finance acts. Application of the act this act applies to years of income commencing on or after 1st july 1997. View income tax act uganda from accounting 2743 at business management training college pty ltd. It also includes references to changes in the practice of the uganda revenue authority where they are significant. We have provided a downloadable pdf version for each of the legislations we have in this library. This book deals with the law of taxation or income tax laws. Taxation of nonresidents providing shipping, air transport or telecommunications services in uganda. Repeal of section 118e of principal act section 118e of the principal act is repealed. Act 3 public finance management act 2015 the public finance. This act may be cited as the tax procedures act, 2015. Practice notes under the ita and vata issued by the commissioner general of the uganda revenue authority. Income liable to tax income tax is levied in each tax period on the total income of both resident and nonresident persons earning an income in rwanda. Tax on payments to nonresident contractors or professionals.
To date the government has implemented the following in a bid to realize the planned reforms aimed at secure retirement incomes for ugandans. In 1952, the ordinances were replaced by the east african income tax management act, which laid down the basic legal provisions found in the current income tax law. An act to consolidate and amend the law relating to income tax and for other connected purposes. Transfer by way of security, finance lease or instalment sale 49. This hand book titled domestic tax laws is primarily intended for internal use by officers and staff of the uganda revenue authority.
Income tax act chapter 470 revised edition 2018 2012 published by the national council for law reporting with the authority of the attorneygeneral. Tables, charts, practical examples and question and answer sections are included. Apportionment of costs and consideration received part v rules governing types of persons division i. In furtherance of this, there have been a number of amendments which have affected about 18 sections of the income tax act 2015, act 896. This tax is applicable to profits transferred to a nonresident by the branch or permanent establishment of a foreign company. To provide for an offence and a penalty for failure to obtain a tax payer identifcation number from a licencee. The tax legislation covered in this reproduction include. Basics and definitions income tax act, 1961 background, concept and mechanism of income tax definitions, concept of income, previous year, assessment year, distinction between capital and revenue receipts and expenditure, residential status basis of charge and scope of total income 2. Pdf understanding local service tax in uganda kaddu. Once on the legislation pages, simply look out for the icon to access the download link. Income tax in uganda, income tax applies generally to all types of persons who derive income, whether an individual, bodies of individuals, or corporate entities. The income tax act, in this act referred to as the principal act, is amended in section 2 by. The income tax bill, 20, which was passed by ghanas parliament on 24 july 2015, was assented to by the president on 1 september 2015.
Tax on payments to nonresident public entertainers or sports persons. The new act modernizes the tax administration provisions and consolidates these within one piece of legislation. A resident person must pay income tax on all income earned, from domestic and foreign sources. A nonresident person must pay income tax only on income which has a source in rwanda. However, also a branch remittance tax was introduced by the finance act 2009 section 6. To download, simply navigate to or search the legislation using the search field above. Except as otherwise provided in this act, the tax payable a in the case of a taxable supply, is to be paid by the taxable person making the supply. Uganda budget highlights and quick tax guide 2015 diving. An analysis on the income tax act 2015 by diana kasabiiti. The tax is payable on the profit after deduction of company tax at a rate of 15%.
Download income tax laws text book pdf for 3rd year students. Income tax was introduced in uganda in 1940 by a protectorate ordinance. Since the inception of this new act, there has been an expression of resentment from the business community about the increase in taxes and the haste with which the act was passed. Uganda wildlife research and training institute act 2015 wildlife wildlife training. All other income derived by a member of parliament, which may include mileage, subsistence, plenary sitting, constituency and medical allowances, is exempt from tax in uganda. Updated copy of the income tax act cap 340 a access to. Income tax amendment act, 2019 uganda legal information. This act applies to years of income commencing on or after 1st july, 1997. Chapter 470 income tax act arrangement of sections part i preliminary section 1. African income tax management act of 1952 was repealed.