Ruhinda North MP Thomas Tayebwa says that many businesses are facing challenges accessing loans because of the COVID-19 risks, and fears that as the government moves to borrow, many banks will withhold money from Ugandans with the hope of lending to the government.
Under the Bill, the government sought to defer payment of income tax for companies and other persons involved in the business of manufacturing, tourism and floriculture, whose turnover is less than 500 million Shillings. It also sought to defer payment of tax on employment income and waive interest on tax arrears.
These include disposable medical face masks, re-usable face masks made of fabric, face shields and the raw materials used in making them. The others are non-woven surgical caps, protective goggles with indirect side ventilation, biohazard bags, disinfectants and sanitizers.
The President had asked parliament to reconsider a position that taxpayers, who declare liability for a consecutive period of five years of income less than 0.5 per cent of their gross turnover. He suggested that these should pay a minimum tax amounting to 0.5 per cent of the turnover for each year commencing with the sixth year.
Uganda and DRC entered a bilateral agreement to implement strategic infrastructure projects which includes constructing the road from Kasindi to Beni measuring about 80 kilometres, Beni to Butembo measuring 54 kilometres and the Bunagana border to Ruchuru-Goma road which measures 89 kilometres.