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Minister Kasaija: Expect No New Tax in 2017/2018 Budget

Finance Minister Matia Kasaija told Parliament today that no new taxes will be introduced in the oncoming Budget

The Finance of Finance, sildenafil http://dayacounselling.on.ca/wp-includes/feed-rss2-comments.php Planning and Economic Development, Matia Kasaija has revealed that government has no intentions of proposing new taxes in the Financial Year 2017/2018.

This, the Minister said, while appearing before the Parliamentary Budget Committee on Wednesday with a presentation on the National Budget Framework Paper for the (FY) 2017/2018.

The Minister noted that unlike in the past years where Government has increased tax rates and proposed new taxes, government doesn’t intend to propose any new taxes but rather focus on revenue mobilization efforts on strengthening tax administration and compliance of tax payers through several interventions.

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“We are not proposing new taxes, we want to build a stronger compliant culture among our society, provide good taxpayer services and taxpayer education,” Kasaija said.

Kasaija revealed that government will improve compliance management and strengthen the effectiveness of international taxation.

“We have noted that there is a certain group that wants to do tax avoidance; the transaction is crafted in such a way that at the end of the transaction, the income gap is zero;  we shall not allow,” Kasaija remarked.

The minister announced that government will invest in third party information matching  and minimize revenue leakages, ensure timely submission of returns and review of existing e-platforms.

The Minister further revealed that government will give priority funding in FY 2017/2018 to increasing production and productivity in the Primary Growth Sectors of the economy including agriculture, tourism, oil, gas and minerals.

“More emphasis shall be put to supporting Private Sector Development for Sustainable Employment creation to match with the number of youth coming onto the labor market and Economic Growth.”

“Other priority area is enhancing infrastructure Development to provide affordable power and lower transportation costs for value addition and enhance ease of doing business in Uganda.”

The 2017/2018 Budget is projected at Sh28.8trillion under the theme; “Enhanced Productivity for Inclusive Growth and Job Creation”.

 

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