The ministry of finance, planning and economic development has said that in the coming 2022/2023 financial year, there will be no new taxes introduced, but instead the focus will be put on improving tax administration.
The revelation was made by the state Minister for finance (general duties) Henry Musasizi while speaking to journalists after tabling a number of tax bills and the 2022/2023 appropriation bill on Thursady .
Musasizi said that the latest tax measures will basically streamline tax administration and bring more revenue, but they aren’t new taxes at all.
During the plenary sitting, government tabled 11 tax bills including the excise duty amendment bill 2022, the value added tax amendment bill 2022, the tax procedures code amendment bill 2022, the income tax amendment bill 2022, the stamp duty amendment bill 2022 and the Uganda revenue authority amendment bill 2022 among others.
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Minister Musasizi explained that the amendment in the traffic and road safety amendment bill 2022, government is seeking to clarify on the cars that are banned from importation into the country from the proposed 15years and reduce them, although didn’t reveal the years agreed upon.
It should be recalled that in the 2018/2019 financial year, parliament approved a proposal by government to amend the traffic and road safety act varying motor vehicle registration fees provided for in the finance act, 2013, varying the environmental levy on motor vehicles provided for in the finance act, 2006 and to ban importation of motor vehicles that are eight years old or more from the date of manufacture.
Parliament however approved the request reducing period from 8 years and instead 15 years for all vehicles.
Musasizi said that the new changes seek to define the particular vehicles and specify the number of years, but not introduce new taxes.
The Minister also rejected claims that the skyrocketing prices are a result of high taxes, saying that the cause of these general prices have got nothing to do with taxation.
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