Income tax act 2014 15 pdf uganda 2015

The tax legislation covered in this reproduction include. Deductions under chapter vi a section 80c, 80d, 80e. Furthermore, and again subject to certain exemptions as provided on income tax act 2004 second schedule, the international antiavoidance practice of taxing income earned by controlled foreign companies cfc applies to tanzania residents. Part iii income tax base division i calculating the income tax base subdivision a total income 5. The act introduces the following changes to the income tax act ita. The inclusion of section 36a of the income tax act, chapter 81. In order to benefit from the amnesty, a taxpayer must submit the tax returns or amended tax returns for years of income 2014 and 2015 on or before 30 june 2016. Rent, for this purpose, means a payment for the use of, or right to use, land or buildings. This means that only the salary that a member of parliament derives from employment as such is subject to income tax in uganda.

Income tax act, 2015 act 896 toggle navigation tax solutions ghana. Excise duty act, 2014 act 878 excise tax stamp act, 20 act 873 customs amendment act, 2016 act 923. Act 14 tax procedures code act 2014 uganda revenue. Printed by uppc, entebbe, by order of the government. 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. The objectives of the various tax measures for the financial. The act came into force on 1 july 2016, and therefore its application is retrospective. Income tax act 90 of 1988 income tax amendment act 99 of 1988 income tax act 70 of 1989. In accordance with the income tax act, 2015 act 896 a persons income from an employment is all of that persons gains and profit from that employment unless it is specifically exempted by the tax laws. 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. The amendment substantially eliminates these difficulties. Income tax act 58 of 1962 south african government. Income tax amendment act, 2002, 2001 uganda electricity distribution company ltd v commissioner general uganda revenue authority civil suit no 423 of 2010 20 ugcommc 2 11 january 20.

Computation income tax in keeping with the new budget measures announced for 2019, the following amendments and changes as they relate to the rate of tax and statutory deductions or free pay for pay as you earn paye employees and selfemployed individuals becamen effective january 1, 2019 year of assessment 2020. Short title and commencement this act may be cited as the income tax act, 1973 and shall, subject to the sixth. It depends upon applicable tax rates as per the total taxable income and status of assessees. On 12 june 2014, the uganda finance minister, the honorable maria kiwanuka. Domestic tax laws uganda 1 preface this handbook containing an uptodate reproduction of ugandas principal tax laws is intended for use by tax administrators, tax practitioners, taxpayers, students and any interested persons. Withholding tax in uganda uganda business travel guide. Uganda has a residence based system of taxation, i. Effective july 2014, rental income, expenditure and losses generated by a taxable individual or. The income tax amendment act 2016 was assented to on 19 november 2016.

Income tax amendment act 2014 section 9 c at 1 of 2014 page 9 part 3 amendments to income tax instalment payments act 1974 9 act amended this part amends the income tax instalment payments act 1974. The taxation laws amendment act 15 of 2016 intends. Occupational and personal pensions scheme general regulations 2011, l. Detecting these inconsistencies is a manual exercise, which largely depends on. The income tax amendment act, 2015 national assembly. Arrangement of sections section part ip reliminary 1. Assessments under income tax law income tax ratesipc. Income tax act 1997 uganda legal information institute. An act to make provision for the charge, assessment and collection of income tax, for the ascertainment of the income to be charged and for matters incidental thereto. The proposed amendments come into effect on 01 july 2018. The income tax act hereinafter referred to as the principal act is amended in section 2 cap. Parliament watch uganda is a virtual tracker that monitors the parliament.

Act 14 tax procedures code act 2014 the tax procedures code act, 2014. Uganda pkf assurance, audit, tax, advisory and business. The income tax amendment act, 2015 national assembly of. This alert summarizes the key reforms contained in each bill. Where the person submitting the returns seeks to claim. An act to consolidate and amend the law relating to income tax and for other connected purposes. Section 15 losses on realisation of assets and liabilities. An assessee, whose income is taxable at higher rates will have more tax savings i. The income tax act is being amended in section 381 by. From 1 january 2015, newly registering or reregistering income tax payers are. The rate of withholding tax on reinsurance premiums has been reduced from 15% to 10%. Income tax is levied on both companies and individuals under the income tax act, cap.

For example, in 2014, the income tax act ita was amended to raise. In addition, the commissioner will waive penalties and interest in respect tax due for years of income 2014 and 2015. To provide for an offence and a penalty for failure to obtain a tax payer identifcation number from a licencee. To provide for withholding tax by a seller of a business or business asset. An analysis on the income tax act 2015 by diana kasabiiti.

Uganda electricity distribution company ltd v commissioner general uganda revenue authority civil suit no 423 of 2010 20 ugcommc 2 11 january 20. In 2014 2015 financial year, the tax procedure code act was passed into. Income tax act 94 of 1983 income tax amendment act 30 of 1984. This act applies to years of income commencing on or after 1st july, 1997. Uganda tax rates for 20162017, 20152016, 20142015 uganda. Income tax amendment act, 2017 uganda legal information. Working paper 45 ids opendocs institute of development studies. An act to continue the existing rates of incometax for the financial year 20142015. This publication constitutes only a brief guide and is not intended to be a comprehensive summary of the tax law. 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.

The uganda income tax amendment bill 2016 the bill was passed by the parliament on 14 april 2016. An act to provide for the imposition and collection of value added tax, and for other. Ura databases 2015 and uganda bureau of statistics 2014. End of service benefit therefore constitutes ones gain from employment and as. 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. Tanzania pkf assurance, audit, tax, advisory and business. Any person, other than an official of the uganda revenue authority, who. The president declined to assent and referred it to the parliament for further debate and amendments.

Taxation laws amendment act 15 of 2016 english afrikaans. Taxable income in respect of foreign equity instruments. Government of zambia act national assembly of zambia. The income tax amendment bill, 2015 parliament watch. Cost inflation index for fy 201415 is 1024 vide notification no. The impact of deductions available under various sections of income tax act is not same for all. Okello okello v the commissioner general uganda revenue authority hccs no.

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. In this act, unless the context otherwise requires. All other income derived by a member of parliament. This act may be cited as the income tax amendment act 2014, and commences on the pt day of july 2014. The tax amendments are in respect of the income tax act, vat act, excise duty act, 2014, the tax procedure code act, 2014, stamp duty act, tax appeals tribunal act, traffic road and safety act and the lotteries and gaming act, 2016. The act exempts the employment income of a person employed as a member of parliament, except for their salary, from tax in uganda. Part 1 income tax, corporation tax and capital gains tax. The act was numbered 896 and published in the official gazette on 1 september 2015. Uganda, all the bills will become law on 1 july 2018.

Act 14 tax procedures code act 2014 uganda revenue authority. Exemption of employment income of members of parliament. Be it enacted by parliament in the sixtyfifth year of the republic of india as follows. Income tax amendment act 2014 section 7 c at 1 of 2014 page 7 f remuneration to which section 2ad deeming for 1970 act of the income tax instalment payments act 1974 the 1974 act applies. Tax rates in uganda for 2016, 2015, 2014 income tax rate for individual tax payers in 2015.