On Aug.29, Tullow’s proposed sale and purchase agreement stipulating the US$900 million farm down to its JV Partners, Total and CNOOC, was terminated. This news was followed a week later, on Sept. 05, with Total’s suspension of technical activities on its pipeline project—the EACOP. Pierre Jessua, the General Manager of …
Read More »Tension as UNBS, police impound sachet waragi in Kampala
Kampala, Uganda | THE INDEPENDENT | Business grounded to a halt at Arua Park yesterday morning when Uganda National Bureau of Standards–UNBS officials raided People’s Plaza and Kati-Kati Plaza and impounded several cartons of sachet alcohol. The UNBS team was accompanied by Uganda Revenue Authority –URA officials and officers from …
Read More »Taxpayers to URA: We don’t have adequate information on taxes
Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority-URA is on the spot for not providing adequate information on tax matters to members of the public. At the tax appreciation show at Kololo on Thursday, taxpayers told URA that they were not receiving enough education on their tax matters to …
Read More »URA realizes low revenue collection in August
Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority (URA) realized less revenue last month with both domestic and international taxes performing poorly. According to Ministry of Finance filings for the month, collections in August were below target by 149 billion shillings. Overall, URA collected 1.4 trillion shillings in August, …
Read More »Smaller companies urged to use affordable accountants
Kampala, Uganda | THE INDEPENDENT | The Institute of Certified Public Accountants of Uganda (ICPAU) has advised smaller companies that cannot afford to hire expensive audit firms to prepare their accounts to make use of the cheaper auditors that the institute has certified. Stephen Ineget, the chairman of the Financial Reporting …
Read More »Uganda’s height of folly
How gross absurdities and misguided corruption fears have killed Uganda’s oil industry THE LAST WORD | ANDREW M. MWENDA | Uganda has been trying to get oil of out the ground for the last 12 years, having discovered reserves in 2007. Last week Tullow ended its proposed farm-down to CNOOC …
Read More »Museveni cornered on Shs 446 bn oil money
Will he flee or fight oil firms? Kampala, Uganda | RONALD MUSOKE | President Yoweri Museveni’s plan to get Shs 446 billion from Uganda’s Petroleum Fund to finance part of the budget deficit this year may have been dashed when Tullow Oil refused to cough up Shs 600 billion in …
Read More »Experts weigh in on the ‘green’ URA Tower
Kampala, Uganda | THE INDEPENDENT | Experts in the architecture and construction industry have said the defects on Uganda Revenue Authority-URA tower are not severe and peculiar and can be addressed. Architect Enock Kibbamu, the chairman of the National Buildings Review Board (NBRB), said parties that put together the building …
Read More »Uganda to host 55 African Customs experts at Munyonyo
Uganda Hosts the 11th African Union Sub Committee of Directors General of Customs Conference from 16th – 20th September 2019, at Speke Resort Munyonyo Kampala, Uganda | THE INDEPENDENT | Uganda will September 16-20th host Directors General and Commissioners of Customs from 55 African Union (AU) member countries. The …
Read More »Freight and logistics firms prepare to tap into oil opportunities
The firms are investing in staff, information technology and standards Kampala, Uganda | JULIUS BUSINGE | As Uganda slowly moves towards commercial oil production, companies in the freight and logistics sector are preparing their staff, investing heavily in information technology as well as standards to tap into the multi-billion sector. …
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