Tag Archives: Henry Musasizi

Kampala, Uganda | THE INDEPENDENT | The Finance Committee of Parliament has approved a bill which seeks to provide for supervision and oversight of mobile money transactions. Currently, Uganda does not have a comprehensive payment system law. As a result, there is limited regulation and oversight of payment systems and …

Kampala, Uganda | THE INDEPENDENT | Members of the Finance Committee of Parliament have endorsed the National Local Content Bill, 2019 which among others, stop companies using public resources from employing foreign nationals. The Bill that was last year tabled before parliament by Kasanda North MP Patrick Nsamba Oshabe imposes local …

Kampala, Uganda | THE INDEPENDENT | Parliament’s Finance Committee has endorsed a government proposal to exempt excise duty on raw materials used in the manufacture of sanitary pads. According to the committee, the exemption is meant to reduce the cost of sanitary pads and offer relief to girls especially those in …

Kampala, Uganda |  THE INDEPENDENT |  Parliament has rejected a proposal by the government to introduce a withholding tax on the purchase of land in the coming financial year 2020/2021.    Under the Income Tax (Amendment) Bill, 2020, the government had proposed a withholding tax on the purchase of land other than land which …

Kampala, Uganda |  THE INDEPENDENT |  Parliament has for the third consecutive year rejected a government proposal to tax businesses making losses in the coming financial year 2020/2021. This was during a debate on Thursday in which MPs approved the Income Tax (Amendment) Bill, 2020 in a plenary session chaired by …

Kampala, Uganda | THE INDEPENDENT | Investors seeking to enjoy tax incentives will have to meet tighter requirements, MPs have resolved. During consideration of the Stamp Duty (Amendment) Bill 2020, MPs decided to increase the threshold for those seeking to benefit from incentives to employ 70 percent of Ugandans who should …

Kampala, Uganda | THE INDEPENDENT | Parliament has passed the Public Procurement and Disposal of Assets Bill, 2019,  which is expected to reduce the bureaucracies of Procurement. The Bill provides for electronic records and communication, the aggregation of procurement requirements and the inclusion of marginalized groups under reservation schemes. The …

Kampala, Uganda | THE INDEPENDENT | The Finance Committee of parliament has approved a request to recapitalize Bank of Uganda with Shillings 481 billion in the 2020/2021 financial year. This is part of the recommendations in the Committee report on the National Budget Framework Paper on votes in the finance …

Kampala, Uganda | THE INDEPENDENT  | Parliament’s Finance Committee has summoned the Bank of Uganda Governor Emmanuel Tumusiime Mutebile to explain the continued recapitalization of the institution. This follows a fresh request by the Ministry of Finance to recapitalize the Central Bank with Shillings 481.7 billion Shillings in the coming financial …

Kampala, Uganda | THE INDEPENDENT  | A joint committee that is scrutinizing the National Social Security Fund Amendment Bill is stuck following a disagreement between Henry Musasizi, the chairperson of the Finance Committee and his Gender counterpart Alex Ndeezi. The Bill seeks to, among others, expand social security coverage and …