Object of the Bill
The object of this Bill is to provide for—
(a) exemption from taxation of the income of airlines and the income of a person derived from the exportation of finished consumer and capital goods for a period of ten years.
(b) the deduction of debt incurred in respect of loans to the Agriculture sector;
(c) the tax payable by a non resident person carrying on the business of transmitting messages by cable, radio, optical fibre or satelite communication, or from providing direct-to-home pay television services to subscribers in Uganda to be a final tax;
(d) the tax withheld on a payment of interest on Government securities other than on Treasury Bill by the Bank of Uganda to any person or by a financial institution to a resident individual to be a final tax;
(e) to prescribe a penalty for a person who fails to furnish a return of income for a year of income within the time required by the Act; and
(f) related matters.
Bill Document
Other Attachments
The Income Tax (Amendment) Bill 2007
Sponsored By Hon. Dr. Ezra Suruma (Minister of Finance, Planning and Economic Development)
Committee: The Committee on Finance, Planning and Economic Development
Start
First Reading/Committee
The bill is still at First Reading, and the first stage of a bill is a passage through the floor of parliament. This stage is usually a formality, primarily focusing on introducing the Bill to the Parliament. It takes place without debate, and the first reading of a Bill can occur anytime in a parliamentary session. The significance of this stage lies in the fact that it marks the formal introduction of the Bill to the Parliament, setting the stage for further discussions and debates.
Second Reading
The Bill has now progressed to the Second Reading, a stage that offers the first opportunity for MPs to engage in a democratic debate on the main principles of the Bill. This stage, which usually takes up to 45 days after the first reading, allows for thorough discussion and ensures that all voices are heard. Once the second reading is complete, the Bill moves to the committee stage, where each clause and any amendments to the Bill may be debated, further highlighting the democratic nature of the process.
Third Reading
Parliament has passed the Bill. The third reading is the final chance for the Members of Parliament to debate its contents. Here, the debate 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
Assented by President
End
Bill passed on 01/01/1970
Bill Withdrawn on 01/01/1970