Experts warn on taxes, as house debates UGX 72 Trillion budget
Parliament is debating a proposal to increase Uganda’s budget from sh58 trillion as proposed in the budget framework to 72 trillion shillings, after some additional allocations were made on security debt repayment and wages. The government hopes to generate more money from the recently introduced taxes. However, tax experts meeting in Kampala have raised concerns over new policy proposals on top of juicy tax incentives for foreign investors, saying they are counterproductive and will work to pile more pressure on SMEs, which are already struggling with the high cost of doing business and also shoulder the biggest part of the tax burden.