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Kenya is foregoing huge tax income from companies operating in the Export Processing Zones (EPZs), whose returns are not commensurate with the economy’s expectations and targets. This is as the firms’ key roles of creating employment and growing the economy dim. While the companies operating at various EPZs and their volume of export goods have […]
By PAUL KIBUUKA From the discussion of the previous two parts of this mini-series on Tanzania’s import taxation regime and, in particular, the import taxes categorised therein, it is clear that the customs value (or, the Cost, Insurance and Freight (CIF))—primarily, the actual value of the goods when they are imported—hugely impacts the taxes that […]
Tax, previously relegated to the background as simply another cost of doing business, is high on the agenda of CEOs and boards of multinational enterprises (MNEs)—and small and medium enterprises (SMEs) in global trade and international business. Paradoxically, at a time when countries in East Africa are using tax and investment incentives to attract foreign […]
Developing countries’ merchandise imports increased by 12 per cent in 2018, says the latest World Statistical Review 2019, which looks into the most recent trends for trade in goods and services. Merchandise imports totalled $7.97 trillion in 2018, according to the report. Developing economies’ imports grew at a faster rate than those of developed economies […]
Doris Akol denied that URA was seeking to introduce more taxes to raise domestic revenue. Tax incentives on foreign direct investment are denying Uganda up to 70% of potential corporate tax revenue, the Uganda Revenue Authority’s Commissioner General, Doris Akol has disclosed Speaking at a public dialogue on national development in Kampala, Akol said such […]
The recent 20th anniversary of the East African Community (EAC) was marked by a High Level Business and Investment Summit, hosted by the East African Business Council (EABC). In his keynote opening speech Hon Professor Kabudi, Tanzania’s Minister for Foreign Affairs and East African Cooperation, cited Mwalimu Nyerere’s view that “East Africa integration is a […]
Busia traders have supported a proposal by Governor Sospeter Ojaamong to allow them to import essential Ugandan goods without paying taxes. They say the hard economic times in Kenya and heavy taxation have frustrated businesses as few people can afford critical consumer products. The traders told the Star on Sunday that the flow of vital […]
Speaking at an EAC high level EA business and investment summit held in Arusha this week, Serengeti Breweries Limited’s Managing Director, Mark Ocitti whose company is currently investing 14 million pounds (over 40bn/-) in expansion of its three brewing plants in the country, said the bloc’s tax regimes are not business friendly. Giving his views […]
Leaders from Uganda and Kenya have resolved to enhance border patrols to ensure smooth movement of goods and people between the two countries. The resolution was reached during a special purpose joint border committee meeting at the Kenyan Busia town’s One Stop Border Post (OSBP) boardroom. Government officials from the two countries convened the meeting […]
Uganda is set to join regional neighbours including Kenya, Rwanda and Tanzania in implementing Digital Tax Stamps Solution which official say is aimed at increasing revenue collections and fighting counterfeits goods. On Thursday 31st October 2019, the Prime Minister Dr Ruhakana Rugunda convened a meeting of key stakeholders to reach a harmonized position on how […]
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