Gov’t projects to collect Shs1.9 trillion in new taxes

The Ministry of Finance has announced plans to collect 1.9 trillion shillings in taxes for the five proposed tax bills, once they are passed into law, in the next financial year. The new taxes to be levied include 5% of land sales in city centers and municipalities across the country, as well as a 100 shilling tax levy on every liter of petrol and diesel. Additionally, there will be an extra 300 shillings tax on paraffin. However, some MPs argue that Ugandans still use paraffin for lighting and this tax would be unfair. The tax proposals are projected for the next financial year 2024/2025. The Ministry of Finance and Uganda Revenue Authority appeared before the finance committee to scrutinize the tax bills, which were recently tabled in parliament. #NTVNews #NTVTonight #NTVWeekendEdition Subscribe to Our Channel For more news visit http://www.ntv.co.ug Follow us on Twitter http://www.twitter.com/ntvuganda Connect with us on Messenger via m.me/NTVUganda