Coronavirus (#COVID__19) has significantly and negatively impacted businesses and the economy. In order for businesses to stabilize and recover, Government of Uganda has put in place the following initiatives;
✔️Reduced tax rates for small businesses taxpayers and has in the interim deferred until September 2020, payment of Corporate Income Tax and Pre- sumptive tax for Small, Medium Enterprises (SMEs) due, 1st April to 30th June 2020.
✔️Deferred payment of PAYE until September 2020 by sectors from 1st April to 30th June 2020 for tax compliant Ugandan businesses facing hardships.
✔️Waived interest or penalties that will accumulate on the tax amounts above, during this period.
✔️Waived interest and penalties on tax arrears accumulated before 1st July.
✔️2020 to lessen the tax liability of businesses who voluntarily comply with their tax obligations.
✔️Provided for Tax Deductibility of Donations for the Corona Virus Response.