Parliament has passed the Income Tax (Amendment) Bill, 2024 and thereafter, House adjourned sine die #PlenaryUg

House has rejected clause 3 of the Income Tax (Amendment) Bill, 2024 that sought to expand capital gains tax to include the sale of land in cities and municipalities, saying it is discriminatory and not equitable. #PlenaryUg

Minister Hon Henry Musasizi has promised to expeditiously fast-track the audit report on the Bujagali power project immediately after the budget process. #PlenaryUg

Hon Patrick Oshabe (Kassanda North): Who is Bujagali? Why are they always on the tax exemption list even when they are against the taxpayers? #PlenaryUg

According to Hon. Muwanga Kivumbi (Butambala County), the new tax exemption for Bujagali should be rejected, saying it has become impunity.

“Let us take leverage of the dams we have built and refuse this exemption to Bujagali.” #PlenaryUg

Hon Avur Pacuto (Pakwach District): Every year, we come up with an extension of one year to Bujagali with an excuse that tariffs will go high without any proof of how high. #PlenaryUg

While scrutinising the Income Tax (Amendment) Bill, 2024 which among others seeks to exempt Bujagali Energy Limited for another year, Hon. Nandala Mafabi said there is no need for another exemption. #PlenaryUg

Hon. John Teira (Bugabula North): In this state of the economy, nobody should be talking about any increment in fuel tax because we are affecting every single transaction. #PlenaryUg

Hon. Tony Ayoo (Kwania County) says mobile money charges are too high for huge transactions. He proposed that taxes on online financial transactions be reduced. #PlenaryUg

Hon. Ekanya: Gov’t needs to bring incentives so that we widen financial inclusion and have agency banking even in rural areas. #PlenaryUg

Hon. Geoffrey Ekanya (Tororo North) said the new tax on agency banking should be dropped in order to deepen financial inclusion.

“Agency banking has tried to create jobs for the youth and the profit margin is very small yet the capital is very high.” #PlenaryUg

Hon. Ibrahim Ssemujju (Kira Municipality) has proposed that the public stops fueling government vehicles so that leaders understand the pain that citizens go through.

“A minister whose fuel is bought by the taxpayer must not increase taxes on fuel unnecessarily.” #PlenaryUg

Hon Ssemujju: As fuel prices soar, production becomes more costly, hindering economic growth and potentially leading to job losses. #PlenaryUg

In his minority report, Hon. Ibrahim Ssemujju said government is already overtaxing Ugandans on fuel and thus, no need for new fuel taxes.

“Government should not be greedy; you are already overtaxing fuel. Why do you turn it into a soft target for tax increment?” #PlenaryUg

The Committee also okayed the proposal to expound the categorization of cement to include adhesives, grout, white cement or lime, and maintain the excise duty rate of cement at Shs500 per 50 kg. #PlenaryUg