URA Commences Levying exercise of All Businesses, Boda-boda Cyclists
Uganda Revenue Authority (URA) has commenced a 2-day exercise in which all businesses and Boda-boda cyclists in Kibaale District will be levied “Business Income Tax”.
The exercise that is being spearheaded by officials from URA will see the businesses issued out with Tax Identification Numbers (TIN) at free cost that they will use to pay the tax.
According to officials from Mubende URA Branch, the 2-day exercise is also aimed at sensitizing and enlightening the business owners that the Business Income Tax to be paid will be determined by the size of the business and this is mandatory whereas the Boda-boda cyclists are to pay an annual Boda Boda income tax of 20,000 shillings.
The businesses and each Boda boda cyclist is being issued a Payment Registration Number (PRN) to pay the required amount of money directly to the URA account.
Godfrey B Majara, one of the businessmen in Karuguuza town in Kibaale town council, has welcomed this government’s method of tax collection.