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.
Bill Document
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
First Reading/Committee
Bill still in its first Reading
Second Reading
Bill in its second Reading
Third Reading
Bill has been passed by Parliament
Presentation/Waiting Assent
Bill is waiting to be assented by the President.
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Bill Withdrawn on