Business

Kampala, Uganda | THE INDEPENDENT | Taxpayers disputing assessments by Uganda Revenue Authority will no longer be required to deposit 30 percent of the amount in dispute before launching a challenge at the Tax Appeals Tribunal (TAT). Section 15 of the Tax Appeals Tribunal Act requires a company or any taxpayer …

Kasese, Uganda |  THE INDEPENDENT |  All tourism sites in Uganda are now open for visitors, Col. (Rtd) Tom Butime the Minister of Tourism, Wildlife and Antiquities has said. But with the country’s borders still closed, domestic tourists and foreigners who are already in the country are the ones expected to …

Kampala, Uganda |  THE INDEPENDENT |  Taxpayers who will want to claim a tax refund from Uganda Revenue Authority – URA will not be allowed if they don’t implement the electronic invoice and receipt system. According to URA, taxpayers have three months up to September 30, 2020, to adjust their systems …

Kampala, Uganda | THE INDEPENDENT | Orient Bank management has said they agreed to sell majority shares of the bank to a Kenyan company which will facilitate its growth into a leading player in Uganda’s banking sector. On Monday, it emerged that I&M Holdings Limited, the owners of I&M Bank Kenya, …

Kampala, Uganda |  THE INDEPENDENT |  Over 58 arcades will remain closed indefinitely for failure to cooperate with the Covid-19 Inspection Task force that was instituted by President, Yoweri Museveni to assess their compliance with the Standing Operating Procedures-SOPs. Addressing journalists at the government owned media center on Wednesday, the Trade, …

Brussels, Belgium | XINHUA | The European Union’s (EU) landmark economic recovery package has largely underpinned the region’s stock market with major shares closing above four-month highs on Tuesday, lifting investor sentiment across the continent amid the ravaging COVID-19 pandemic. After five days of intense marathon negotiations, the 27-member bloc …

Accra, Ghana | XINHUA | China’s participation will be one of the key ingredients to the success of the African Continental Free Trade Area (AfCFTA) agreement, some experts have said. Speaking with Xinhua, international trade expert Francis Kofi Korankye-Sakyi said the critical role China has played in Africa’s economic and …

New York, US | XINHUA | The U.S. dollar dropped noticeably in late trading on Tuesday as the euro extended gains after European Union (EU) leaders reached a deal on a massive stimulus plan for their coronavirus-battered economies. The dollar index, which measures the greenback against six major peers, fell …

Kampala, Uganda |  THE INDEPENDENT | PEP, the clothes retailer has cut prices of all its products by 30% at all outlets in Uganda as the store plans to exit Uganda. The store with headquarters in Cape Town, South Africa has also cut prices for bags and underwear by half among …

Separation from Barclays PLC has allowed Absa to roll out a whole new brand reflecting its African identity. Marie Jamieson, head of marketing and corporate relations for ARO (Absa Regional Operations) highlights the challenges and successes of the bank’s rebranding journey. In 2016, when Barclays PLC announced it was reducing its …