Tax Question: Discuss the major changes in the Uganda tax laws of the financial year 2012/13.
Answer Thank you, these were many questions. Some examples of changes made in the Uganda Tax law 2012/13 include the following:
VAT The cost of water for home consumption went up as a result of the re-introduction of the VAT at 18%.
Excise Duty Duty on spirits. Duty on un-denatured spirits (Wines and Spirits) was doubled from 70% to 140%
VAT on Wheat and Wheat flour VAT at 18% was introduced on wheat & wheat flour, which were previously exempted. This led to increased prices for wheat flour and related products like bread, chapatis, cakes and the like.
Stamp duty Stamp duty on 3rd party insurance policies for motor vehicles was increased by 30,000/-.
Motor vehicle owners will thus not only pay more for fuel but also insurance among other changes.