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Stanbic Uganda Holdings Limited (SUHL) has once again proven its financial strength, posting a record net profit of UGX 478 billion in 2024, up from UGX 411.5 billion in 2023,…
Ibrahim Bbossa It is important for anyone in Uganda’s entertainment industry to understand their tax obligations. This includes artists, musicians, and writers who are required to pay taxes on their earnings from any creative work they produce. Artists in Uganda are required to pay income tax on all earnings, including international show revenues. Taxable income is your earnings minus allowable deductions. An 18% VAT applies to all services and goods, including entertainment. Artists with annual sales over Shs 150 million must register for VAT and charge it on their services. Freelancers will need to pay a withholding tax of either…
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Many African tax authorities have weak capacity to raise revenue. From 1990 to 2020, sub-Saharan African countries on average collected only about 12%-15% of GDP as taxes, a much lower share than the 33.5% in OECD economies For countries that have limited information about taxpayers, constrained resources and informal economies, it can be difficult to collect revenue. What’s more, African tax administrations tend to rely on manual filing and payment of taxes. Kenya has faced many of these challenges. To streamline processes and make them more transparent, the country has in the last decade begun to digitise public services like…
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