The Finance Permanent Secretary, Mr Ramathan Ggoobi, addresses journalists recently.

This past week, so many stories made headlines in the business world. Here is a summary of the stories.

Govt vows not to introduce new taxes in next financial year

Government has pledged that no new taxes will be introduced considering that Ugandans are struggling to keep afloat as a result of the Covid-19 pandemic.

The Permanent Secretary at the Finance ministry, Mr Ramathan Ggoobi, said instead of introducing new taxes,  the government will shift its energies into mooting measures that will enable tax collection and compliance agencies to make Ugandans remit their taxes without fail.

He said majority of taxes government introduced, some have not yielded the intended goal because few are compliant and the majority still evade.

Ibrahim Bbosa appointed URA spokesperson

On November 1, the public relations officer of the Uganda Communications Commission, Mr Ibrahim Bbosa, was appointed Assistant Commissioner, Public and Corporate Affairs at Uganda Revenue Authority (URA) in a raft of staff changes at the tax collection body.

Mr Ibrahim Bbosa, has been appointed Assistant Commissioner, Public and Corporate Affairs at Uganda Revenue Authority (URA)

According to the changes, Bbosa replaces Vincent Seruma who recently bowed out after a long career at the tax collection body.

Denis Kugonza Kateeba, who previously worked as head of Accounts at Uganda National Roads Authority, has been appointed the Commissioner Tax Investigations.

Fish traders seek tax changes in fisheries Bill

The Uganda Commercial Fish Farmers Association (UCFFA) has appealed for changes in the new Fisheries and Aquaculture Bill, 2021.

The farmers want Parliament to repeal the provision within the Bill that attaches a tax to movement of farmed fish which they said is already catered for in the fees being charged on fishing vessels.  

The Bill framers, UCFFA observed, did not take into account the difference between farm fishing and fishing on lakes, which they said operate under different circumstances and thus require different legislation.

UNBS launches crackdown against uncertified maize millers, processors

The Uganda National Bureau of Standards (UNBS) asked all maize millers, processors and dealers to adhere to all quality standards or face closure.

According to the UNBS Executive Director, Mr. David Livingstone Ebiru, they have been sensitizing maize millers, processors and dealers in different parts of the country over the last one (1) year about the quality standards and now there will be no excuse over non-compliance.

UNBS executive director David Livingstone Ebiru. PHOTO/COURTESY

Mr. Ebiru said the enforcements of the standards became necessary following reported incidences of high levels of aflatoxins in maize grain which was putting the health and safety of consumers at risk both on the domestic and exports markets.

URA hands over motor vehicle licensing to Ministry of Works

The Uganda Revenue Authority (URA) also handed over the mandate to register and license motor vehicles in Uganda the Ministry of Works and Transport.

This follows a 2019 government decision, reasoning that URA needs to concentrate on its core mandate of revenue collection.

Works minister Gen Katumba Wamala and his junior, Musa Ecweru on Wednesday received the symbolic key at the handover ceremony in Kampala on Wednesday.

Speaking at the handover function in Kampala on Wednesday, 03 November 2021, URA Commissioner General John Musinguzi Rujoki said the transfer of motor vehicle administration to the Ministry of Works is intended to improve service delivery to the public.

Ugandan shortlisted for top Africa entrepreneurship award

A Ugandan businesswoman was shortlisted for this year’s annual awards that recognise top female business entrepreneurs in Africa.

Gudula Naiga Basaza, who is the managing director of Gudie Leisure Farm, is listed in the social entrepreneur category in the awards organised by the Africa Women Innovation and Entrepreneurship Forum (AWIEF), a Pan African entrepreneurship non-profit organisation.

Gudula Naiga Basaza, who is the managing director of Gudie Leisure Farm.

There are 24 candidates listed to win in different categories but the social entrepreneur category has three candidates.  The others are Zandile Mkhwanazi and Tinyiko Simbine, Co-founders, GirlCode (South Africa) and Angela Juliana Odero, Managing Director, Rio Fish Ltd (Kenya)

CNOOC announces decision to develop Uganda’s Kingfisher oil well

China National Offshore Oil Corporation (CNOOC) also announced that it is ready to develop the Kingfisher oil well in what is technically called the Final Investment Decision (FID).

The announcement was made by the president of CNOOC Uganda Ltd, Chen Zhuobiao, to the Executive Director of Petroleum Authority Uganda (PAU), Mr Ernest Rubondo, on Wednesday, November 3, 2021.

The President of CNOOC Uganda Ltd Chen Zhuobiao also paid a courtesy call to the Executive Director Petroleum Authority Uganda (PAU) Ernest Rubondo on Wednesday.

The FID comes after the Chinese oil company fulfilled the various requirements such as appropriate environment and land authorisations, financing arrangements and completion of infrastructure designs.

Parliament wants Ministry of Gender to supervise NSSF midterm access

Lawmakers on Parliament’s Gender, Labour and Social Development Committee have recommended that the Gender Ministry be responsible for the supervision of NSSF.

President Museveni had advised that NSSF be supervised by the Ministry of Finance.

But the chairperson of the committee, Ms Flavia Kabahenda (Kyegegwa Woman – NRM) said the Ministry of Finance is ably represented on the NSSF board and the benefits of the entire retirement sector, and there is no need to have them manage the fund.

UIA gets over 1,000 acres of land for industrial park in central Uganda

Uganda Investment Authority (UIA) has been offered1,140 acres of land for industrial parks development in central Uganda.

The national army, the Uganda People’s Defence Forces (UPDF) has, through its business arm, National Enterprises Corporation (NEC), offered UIA one-square mile (640 acres) for establishment of Tarehe Sita Industrial Park in Kakooge, Nakasongola Districts. Tarehe Sita is Swahili for Sixth of February.

The land is located strategically in the heart of Uganda, astride the vital Kampala-Gulu-Juba international highway.