Why new tax regime is triggering protests
Uganda, April 20 -- Uganda's national Treasury is currently targeting additional taxes to help the taxman meet a Shs30 trillion target for the upcoming financial year. The Treasury is in a cash-crunch to meet both its current deficit budget and its upcoming 2024/2025 fiscal year Budget that is just a few weeks away from reading.
The public is deeply concerned about the government's plan, though, with traders-who met President Museveni yesterday-and manufacturers raising the most alarm. The government needs an extra Shs5.64 trillion to fund its Shs58.3 trillion Budget for the fiscal year 2024/2025.
READ: Value Added Tax critical amendments explained
This would have been simpler if its tax collectors were bringing in enough money, but ac...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.