National Housing sues URA over Value Added tax
Nov 30, 2005
NATIONAL Housing Finance Company (NHFC) has sued Uganda Revenue Authority (URA), protesting a sh2.4b Value Added Tax (VAT) bill,
NATIONAL Housing Finance Company (NHFC) has sued Uganda Revenue Authority (URA), protesting a sh2.4b Value Added Tax (VAT) bill, writes Stephen Muwambi.
NHFC’s lawyer James Nangwala filed the appeal, seeking URA’s taxation decision to be quashed.
Commercial Court head Justice Egonda Ntende yesterday said he would rule on NHFC’s application to have the taxation reviewed by court, on December 15.
The bill arises out of a deal where the Government engaged NHFC to receive proceeds from the sale of its pool houses to sitting civil servants.
The Government had earlier engaged NHFC to manage a fund for developing Namuwongo low cost housing scheme, where the plot owners were to be availed required building materials.
The materials were to be treated as a loan to be repaid through NHFC, with interest.
Patrick Kabonero’s affidavit says NHCC later engaged the bank to receive proceeds from sale of the houses.
NHFC’s lawyer James Nangwala filed the appeal, seeking URA’s taxation decision to be quashed.
Commercial Court head Justice Egonda Ntende yesterday said he would rule on NHFC’s application to have the taxation reviewed by court, on December 15.
The bill arises out of a deal where the Government engaged NHFC to receive proceeds from the sale of its pool houses to sitting civil servants.
The Government had earlier engaged NHFC to manage a fund for developing Namuwongo low cost housing scheme, where the plot owners were to be availed required building materials.
The materials were to be treated as a loan to be repaid through NHFC, with interest.
Patrick Kabonero’s affidavit says NHCC later engaged the bank to receive proceeds from sale of the houses.