#PublicNotice
URA would like to inform the public about an important provision in the Tax Procedures Code Act.
Section 40D provides for a chance for taxpayers to have their interest & penalty fees waived if they pay off their outstanding principal tax by 31. 12. 23.
⬇️Details.
The Bill seeks to limit the withholding tax to payments for winnings of betting.
Therefore, winnings from betting and gaming would no longer be subject to withholding income tax.
DID YOU KNOW?
Section 118C of the Principal Act provides for Withholding of tax on payments for winnings of betting or gaming & states that a person who makes payments for winnings of betting or gaming shall withhold tax on the gross amount of the payment at 15%.
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DID YOU KNOW?
Registration of Tax Agents shall remain in force from the date of issuance of the Registration Certificate till the 31st December of the year of issue and not for 12 calendar months as previously provided.
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DID YOU KNOW?
An imported service to be used in provision of an exempt supply per se is no longer an exempted import. Exempt imported services are now limited to services that would be exempt if supplied in Uganda.
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