Bill_ID

241

Short Name

The Income Tax (Amendment) Bill 2007

Sponsor Name

Hon. Dr. Ezra Suruma

Type Name

Government

First Reading

2007-07-24

Overview

<p>The object of this Bill is to provide for&mdash;<br />(a) exemption from taxation of the income of airlines and the income of a person derived from the exportation of finished consumer and capital goods for a period of ten years.<br />(b) the deduction of debt incurred in respect of loans to the Agriculture sector;<br />(c) the tax payable by a non resident person carrying on the business of transmitting messages by cable, radio, optical fibre or satelite communication, or from providing direct-to-home pay television services to subscribers in Uganda to be a final tax;<br />(d) the tax withheld on a payment of interest on Government securities other than on Treasury Bill by the Bank of Uganda to any person or by a financial institution to a resident individual to be a final tax;<br />(e) to prescribe a penalty for a person who fails to furnish a return of income for a year of income within the time required by the Act; and<br />(f) related matters.</p>