The UK has drastically increased the volume of natural gas being pumped to the EU amid Russia’s war in Ukraine, powering a record monthly rise in goods exports to the continent despite Brexit.
Uganda Revenue Authority (URA) will start collecting Value Added Tax (VAT) from non-resident electronic services provider companies operating in the Ugandan economy, effective July 1, 2022.
Despite the outbreak of the COVID 19 pandemic and other global crises that affected the economy, the Ugandan taxpayer has not blurred their ambition to contribute their fair share of revenue.
The advancement of technology and internet have transformed the way businesses operate, and ushered new trends in transactions.
URA in partnership with the Insurance Regulatory Authority (IRA) announced in May 2022, that all cargo imported into Uganda by sea, air, rail, road or registered post must be insured by local insurance companies.
Enforcement of Local Marine Cargo Insurance for all Imports..
Last week, the Ministry of Finance, Planning and Economic Development (MOFPED) revealed UGX 48 trillion as budget for FY 2022/2023 where UGX 25.6 trillion will be revenue from taxes and Non-Tax Revenue (NTR) sourced internally.
The British Chambers of Commerce is urging political leaders to aim for bold reforms to boost world trade in goods and services.