Bill Progress

Object of the Bill

The object of the Bill is to amend the income tax act cap.340 to  provide for the exemption from payment of income tax on income  accrued by a body established  an Act of Parliament to regulate the  conduct of professionals; to provide for the exemption from tax of the  income of Bujagali hydro power project up to the year 20333; to  provide for deduction of initial allowance for certain capital  investments outside a radius of fifty kilometers from Kampala; to  provide for transactions between associates to reflect the chargeable  income realized in an arm’s length transaction; to empower the  minister to issue estimates of rent for the purposes of assessing rental  tax; to provide for withholding tax on winnings of sports betting or  pool betting; to provide for advance tax in respect of specified transport services; to provide for a requirement to report financial transactions; to provide for a limit on the interest payable on unpaid tax; to provide for a rate of withholding tax on winnings from gaming and pool betting; to and the formula for assessing the value of the  benefit a vehicle provided to an employee wholly or partly for a private purpose; and for related matters.

Other Attachments

The Income Tax (Amendment) Bill, 2017,

Sponsored By Hon. Matia Kasaija (Minister of Finance, Planning and Economic Development)

Committee: The Committee on Finance, Planning and Economic Development

Start

2017-02-09

First Reading/Committee

Bill still in its first Reading

2017-05-09

Second Reading

Bill in its second Reading

2017-05-09

2017-05-09

Third Reading

Bill has been passed by Parliament

2017-06-01

Presentation/Waiting Assent

Bill is waiting to be assented by the President.

2017-06-01

2017-06-29

Assented by President

Bill is now an Act of Parliament because it has been assented by the President.

End

Bill passed on 2017-06-29

Bill is now an Act of Parliament because it has been assented by the President.

Bill Withdrawn on

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