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Over 110,000 taxpayers benefit from URA amnesty

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Over  110,000 taxpayers benefit from URA amnesty
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URA has waived interest and penalties for 117,000 taxpayers under a tax amnesty programme in which nearly one million eligible taxpayers are urged to settle their principal taxes by December 31 to benefit.

The Uganda Revenue Authority (URA) has granted a tax amnesty, waiving interest and penalties accrued by 117,000 taxpayers.

This follows the announcement of a tax relief program by the URA, aimed at easing the financial burden on businesses and individuals who have struggled to meet their tax obligations.

According to Sarah Chelangat, the Commissioner for Domestic Taxes at URA, nearly one million taxpayers out of the four million registered have yet to take advantage of this amnesty.

She urged these taxpayers to settle their principal tax amounts by the 31st of December to benefit from the waiver.

“Since the announcement, 117,000 taxpayers have already benefited from this program,” Chelangat stated.

“We expect many more to apply and take advantage of this relief because a significant number of taxpayers qualify for the waiver.”

Chelangat emphasized the importance of this amnesty, particularly for businesses that have been severely affected by the COVID-19 pandemic and the subsequent economic challenges.

She noted that URA is aware of the hardships faced by the business community and hopes that no one misses out on this valuable opportunity.

Despite the potential benefits, there appears to be a lack of awareness among some business owners.

Henry Kwenkya, a businessman in Nakawa Market, which is located near the URA Towers, admitted that he was unaware of the amnesty.

“I am not aware of it, but if it’s true, it would be very beneficial for me. I could retain the savings and reinvest in my business to boost it,” he said.

Chelangat encouraged all eligible taxpayers to take immediate action, as the amnesty period may not be extended beyond 2024. She also hinted at the need for more awareness campaigns in the coming months to ensure that the business community is fully informed about this opportunity.

For businesses like that of Elijah Kasujja, also based in Nakawa Market, the amnesty could provide much-needed relief.

Kasujja noted the challenges of maintaining operations amidst low sales and high operational expenses.

“Not every day is a Sunday, meaning that not every day is good. We are not doing well financially,” he explained, highlighting the cash flow problems that many businesses face.

As the December deadline approaches, URA's focus will be on increasing awareness and encouraging more taxpayers to take advantage of the amnesty, which could offer significant financial relief and support the revival of struggling businesses.

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