• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
Watchdog Uganda
No Result
View All Result

Hard times for investors as MPs tighten qualifications for tax incentives

Catherine Apolot by Catherine Apolot
5 years ago
in Business, Companies, National, News
13 1
MPS

MPS

ShareTweetSendShare

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 have decided to increase the threshold for those seeking to benefit from incentives to employ 70 per cent of Ugandans, who should also collectively earn 70 per cent of the particular company’s wage bill.

“A percentage rate of 70 per cent citizens be used to replace the current number of 100 citizens; Citizens employed by the company should earn 70 per cent of the total salary budget for a particular financial year,” proposed MP Henry Musasizi, the Chairperson of the Committee on Finance.

MPs also lifted stamp duty on mortgages, which MPs argued was crippling and unfair.

Currently, investors who are citizens of Uganda or the East African Community who inject a minimum of US$1 million enjoy incentives, while foreigners reap the coveted benefit if they inject $10 million.

MPs have further incentivized local investors by lowering their threshold for benefitting from the tax incentive to $300,000 and $100,000 for upcountry investments.

MPs say the additional measures are intended to make a transition to total 100 per cent operations being run by local citizens.

MP Syda Bbumba (NRM, Nakaseke North) said additionally, the companies must have a clear policy aimed at training locals to eventually take over the operations entirely.

“These people must have a programme for training locals because eventually these local people must take over,” she said.

Those applying for professional certificates will now part with Shs100,000 a measure the Minister says will increase on the revenue basket.

Corrigenda

Finance Minister, Hon Matia Kasaija also submitted several corrections to the budget, technically referred to as corrigenda to the budget estimates for financial year 2020/2021.

Most of the errors were either over or under-allocation, which the corrigenda has sought to redistribute to other votes.


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
Share3Tweet2SendShare

Related Posts

Hon. David Bahati
News

Minister Bahati: We are consulting widely after NRM primary vote

19th July 2025 at 13:55
News

President Museveni pledges Shs1 billion per ghetto structure in Kampala 

19th July 2025 at 12:44
Community News

Hundreds Flood Social Media to Congratulate Hon. Milly Babalanda on Budiope West NRM Primary Victory

19th July 2025 at 11:15
Next Post
Health Minister Dr Jane Ruth Aceng [m] addressing the media on Friday

Who says coronavirus is sexually transmitted? Just give them condoms! Social media defends quarantined people having sex with each other

  • Prostitution in Uganda- Courtesy Photo

    10 dangerous hotspots known for prostitutes in Kampala

    1145 shares
    Share 458 Tweet 286
  • Silent Billionaire Bosco Muwonge Buys Mukwano Arcade at UGX 250 Billion Cash Down

    60 shares
    Share 24 Tweet 15
  • Who is Bosco Muwonge, Uganda’s elusive real estate billionaire?

    44 shares
    Share 18 Tweet 11
  • LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

    2293 shares
    Share 917 Tweet 573
  • LIST : Gov’t releases Revised Salary Structure for Teachers, Police, and Prisons Staff for FY 2024/2025

    129 shares
    Share 52 Tweet 32
Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Email: editorial@watchdoguganda.com
To Advertise:Click here

Latest News

Hon. David Bahati

Minister Bahati: We are consulting widely after NRM primary vote

19th July 2025 at 13:55
Mashable is a global, multi-platform media and entertainment company For more queries and news contact us on this Email: info@mashablepartners.com

Check out

  • Trending
  • Comments
  • Latest
Minister Muruli Mukasa

LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

24th May 2020 at 10:45
Pregnant woman

Shock as 17-year old boy impregnates his two sisters during Covid-19 lockdown 

17th June 2020 at 08:17
Sudhir Ruparelia is the undisputed king of Kampala

Billionaire Sudhir’s wisdom on how to invest in real estate

0

How a boy’s destiny turned from cotton grower to communications guru

0
Hon. David Bahati

Minister Bahati: We are consulting widely after NRM primary vote

19th July 2025 at 13:55

President Museveni pledges Shs1 billion per ghetto structure in Kampala 

19th July 2025 at 12:44

© 2025 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News

© 2025 Watchdog Uganda