Object of the Bill
The object of this Bill is to amend the Income Tax Act Cap.340-
a) to provide for the exemption from tax of the value of a right or option to acquire shares granted to an employee under an employee share acquisition scheme;
b) to provide for the exemption from tax of income derived from agro processing;
c) to substitute paragraph (j) of section 79;
d) to substitute section 86(4);
e) to amend section 89QC (1)(a) by substitute for “section 54” the words” “section 154” ;
f) to amend section 121-
i. in subsection (3), by substituting the words “Subsection(2)” for "This section”; and
Sections
1. Commencement
2. Amendment of section 2
3. Amendment of section 4
4. Amendment of section 19
5. Amendment of section 21
6. Amendment of section 78
7. Amendment of section 79
8. Amendment of section 86
9. Amendment of section 88
10. Amendment of section 89QC
11. Amendment of section 121
12. Amendment of section135
13. Amendment of section 140
Bill Document
Other Attachments
| 1 |
Laws of Uganda (Acts) - THE INCOME TAX (AMENDMENT) ACT 2011.pdf
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| 2 |
FPED3-11-Income Tax (Amendment) Bill, 2011.pdf
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| 3 |
CERTIFICATE OF FINANCIAL IMPLICATIONS INCOME TAX (AMENDMENT) BILL, 2011 20-07-2011 Laid Document.pdf
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The Income Tax (Amendment) Bill, 2011
Sponsored By Hon. Maria Kiwanuka (Minister of Finance, Planning and Economic Development)
Committee: The Committee on Finance, Planning and Economic Development
Start
First Reading/Committee
Bill is still at First Reading, the first reading being the first stage of a Bill passage through the Floor of Parliament and is usually a formality, it takes place without debate, and the first reading of a Bill can occur anytime in a parliamentary session.
Second Reading
Bill is in the second stage. The second reading is the first opportunity for MPs to debate the main principles of the Bill. It usually takes place up to 45 days after the first reading. Once second reading is complete the Bill proceeds to committee stage where each clause (part) and any amendments (proposals for change) to the Bill may be debated.
Third Reading
Parliament is passing the Bill. The third reading is the final chance for the Members of Parliament to debate the contents of a Bill. Here debate on the Bill is usually short and limited to what is actually in the Bill rather than, as at the second reading, what might have been included.
Presentation/Waiting Assent
Waiting for Assent. Bill is waiting for the President to assent to it. When the Floor of Parliament has passed a Bill, it shall be presented to the President, and the President shall declare either that he assents to the Bill or that he withholds assent.
Assented by President
The Bill is now an Act of Parliament. When a Bill has completed all its parliamentary stages on the floor of Parliament, it must have President Assent before becoming an Act of Parliament (law). President Assent is the State agreement to make the Bill into an Act and it is a formality.
End
Bill passed on 29/09/2011
The Bill is now an Act of Parliament. When a Bill has completed all its parliamentary stages on the floor of Parliament, it must have President Assent before becoming an Act of Parliament (law). President Assent is the State agreement to make the Bill into an Act and it is a formality.
Bill Withdrawn on 01/01/1970