Income tax act 2014 15 pdf uganda 2017

May 04, 2020 list of all incomes exempted from income tax, list of exempted incomes 2020. The fiscal year in uganda runs from 1 july to 30 june. The income tax act is amended by repealing section 51a. Income tax amendment act, 2017 uganda legal information. Income tax act 94 of 1983 income tax amendment act 30 of 1984. The income tax act is amended by repealing section 98. An act to consolidate and amend the law relating to income tax and for other connected purposes. Uganda sourced income is clearly defined for purposes of the income tax act. Fy201718, however, the currency is expected to rebound owing to. Civil society position on tax bills fy 201718 csbag. Calculate business or professional income, get industry codes, and report various income types. Taxation laws amendment act 15 of 2016 english afrikaans.

We understand the 15 % tax reduction is designed to offset the 15 % withholding tax reversing a 15 % increase in 2016 and share the tax burden more evenly between. The proposed amendments come into effect on 01 july 2018. The uganda income tax amendment bill 2016 the bill was passed by the parliament on 14 april 2016. Assessments under income tax law income tax ratesipc. List of all incomes exempted from income tax, list of exempted incomes 2017. 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. Domestic tax laws of uganda uganda revenue authority. In this act, unless the context otherwise requires. The impact of deductions available under various sections of income tax act is not same for all. 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. Income tax act ita cap 340, the income of a savings and. 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. This publication is the tenth edition of the condensed version of the oecd model tax convention on income and on capital.

This applies to operators of casinos and gaming or betting activities on the total money staked less payouts winnings. Act 14 tax procedures code act 2014 the tax procedures code act, 2014. Latest income tax slab rates, today we provide complete list of all incomes exempt from income tax. Uganda pkf assurance, audit, tax, advisory and business. Acts 2014 parliament of uganda the parliament of uganda. In updating this version, the reprint of the income tax act and the value added tax act as at 19th. An act to provide for the taxation of incomes and matters connected therewith. Rent, for this purpose, means a payment for the use of, or right to use, land or buildings.

We understand the 15% tax reduction is designed to offset the 15% withholding tax reversing a 15% increase in 2016 and share the tax burden more evenly between. These are the fundamental laws to be read in conjunction with their respective regulations and finance acts. Other payments for goods and services are subject to withholding tax with different rates in some cases depending on whether the recipient is resident in uganda. The income tax act is amended by repealing section 105. Uganda analyzed the tax bills fy 201718 excise duty amendment bill. Income tax act 90 of 1988 income tax amendment act 99 of 1988 income tax act 70 of 1989. This shorter version contains the articles and commentaries of the model tax convention on income and capital as it read on 21 november 2017. This alert summarizes the key reforms contained in each bill. Defining cost oil to mean a licensees entitlement to production as cost recovery under a petroleum agreement. The income tax act hereinafter referred to as the principal act is amended in section 2 cap. Just realized that the scene where ned finds out peter is spiderman and in awe drops the halfbuilt death star means some poor guy put together about 2000 pieces just so it could be dropped. Income tax act 2007 no 97 as at 21 april 2020, public. The income tax act chapter 323 of the laws of zambia is the legislation that governs income tax in zambia.

Act 14 tax procedures code act 2014 uganda revenue authority. An assessee, whose income is taxable at higher rates will have more tax savings i. Model tax convention on income and on capital 2017 full. Revised excise duty rates of certain items specified in schedule 2 of the excise duty act, 2014. 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. Printed by uppc, entebbe, by order of the government. Finance act 2014 finance act 2015 finance act 2016. The taxation laws amendment act 15 of 2016 intends. Tax amnesty act, 2017 act 955 revenue administration act, 2016 act 915 the taxpayers identification numbering system act, 2002 act 632 repealed by act 915. Parliament watch uganda is a virtual tracker that monitors the.

It depends upon applicable tax rates as per the total taxable income and status of assessees. Uganda, all the bills will become law on 1 july 2018. The income tax act is amended by repealing section 72. The president declined to assent and referred it to the parliament for further debate and amendments. South african institute of chartered accountants integritax newsletter income tax and vat acts online the income tax act, 1962, valueadded tax act, 1991 and other tax acts may be accessed on the sars website the consolidated income tax act is available, in a pdf version, under the tax heading on the university of pretoria, laws of sa consolidated legislation website. The act came into force on 1 july 2016, and therefore its application is retrospective.

The income tax act is amended by repealing section 75a. The tax legislation covered in this reproduction include. Blizzard baron photo more posts from the lego community. Personal, business, corporation, and trust income tax. Total income gross total income minus long term capital gains, shortterm capital gains under section 111a, deductions under sections 80c to 80u other than 80gg and income under section 115a. Income tax act 58 of 1962 south african government. This publication is the tenth edition of the full version of the oecd model tax convention on income and on capital. Act 14 tax procedures code act 2014 uganda revenue. Act, vat act, excise duty act, 2014, the tax procedure. The income tax amendment act 2016 was assented to on 19 november 2016.

Since fy 201415 csos under the civil society budget advocacy group. Like agriculture income completely exempt under sec 10 1 etc. Extent to which the income is distributed to participants in the collective investment scheme. Income tax is tax on profits made by limited companies, partnerships and selfemployed individuals as well as on emoluments earned by employees. Income tax act 2007 no 97 as at 21 april 2020, public act. This shorter version contains the articles and commentaries of the model tax convention on income and capital as it read on 21 november 2017, but without the historical notes and the background reports that are included in the full version. Income tax and vat acts online the income tax act, 1962, valueadded tax act, 1991 and other tax acts may be accessed on the sars website. Value added tax amendment act, no 07 of 2014 certified on april 24, 2014 consolidated text of the value added tax act, no. A guide on tax incentivesexemptions available to investors in uganda income tax exemptions who qualifies conditions for granting exemption collective investment scheme must be licensed to operate as a collective investment scheme. Such incomes which don not form part of total income may also be called incomes exempt from tax. The income tax act is being amended in section 381 by. View income tax act uganda from accounting 2743 at business management training college pty ltd. Amendment to schedule 2 of the excise duty act, 2014 pg10 the tax.

This act applies to years of income commencing on or after 1st july, 1997. Ugandasourced income is clearly defined for purposes of the income tax act. File corporation income tax, find tax rates, and get information about provincial and territorial. Arrangement of sections section part ip reliminary 1. On 18 january 2017, the income tax amendment bill 2017 was published in the official gazette. Act 10 income tax amendment act 2017 the income tax amendment act, 2017 arrangement of sections section 1.

The bill, if passed into law, proposes to amend the income tax act cap 340 by. This full version contains the full text of the model tax convention as it read on 21 november 2017, including the articles, commentaries, nonmember economies positions, the recommendation of the oecd council, the historical notes and the background reports. 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. All other income derived by a member of parliament. Entitlement to tax treaty benefits the act amends section 885 of the ita to provide clarity. It also includes subsidiary legislation and practice notes under different the tax laws. The bill proposes various amendments to the income tax act ita. Companies must file a return of income each year by 31 december following the end of the tax year.

This act may be cited as the income tax amendment act 2014, and commences on the pt day of july 2014. The amendment substantially eliminates these difficulties. List of all incomes exempted from income tax, list of. All receipts, which give rise to income, are taxable under the incometax act unless it is specifically provided that it does not form part of total income. Part iii income tax base division i calculating the income tax base subdivision a total income 5.

Find full list of all incomes who completely exempt from income tax. Collection of tax from persons leaving uganda permanently. Income tax is levied on the worldwide income of resident individuals a foreign tax credit is. File income tax, get the income tax and benefit package, and check the status of your tax refund.