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A Chinese businessman has been charged with tax fraud amounting to $967,156 (sh3.6 billion).

Wu Su, who had been remanded to Luzira prison until May 17, 2024, was produced in court on May 9, 2024, through a production warrant and charged.

Su was charged at the Nakasero-based Anti-Corruption Court presided over by Principal Grade One Magistrate Christopher Opit. 

He was charged with three counts: failure to apply for registration as required under a tax law contrary to Section 62(a) of the Tax Procedures Code Act of 2014, failure to furnish a tax return contrary to Section 54(1) of the Tax Procedure Act of 2014 as amended, and failure to maintain proper records contrary to Section 56 of the Tax Procedures Code Act of 2014.

The charges were read out to him in court through an interpreter in the presence of his lawyer, Derrick Bazekuketta.

It is alleged that from January 2021 to August 2023 in Kampala central, being an account holder number 2301209970 held at KCB Bank Commercial Plaza branch, Su had unexplained amounts from allegedly unexplained transactions amounting to $967,156 (about Shillings 3.6 billion).

According to court documents, Su's account indicates a debit of $966,688 (about Shillings 3.7 billion) without applying to the Uganda Revenue Authority Commissioner General for registration as required under tax law.

In the second count, it is alleged that Su, from January 2022 to December 2023, at KCB Bank branch being the account holder number 2301209970, had an unexplained amount of money in his account and did not file for tax returns to the Uganda Revenue Authority.

It is further alleged that Su, being an account holder in KCB Bank, did not maintain proper records of accounts of the unexplained amounts and the transactions as required by the law. He denied the charges.

The prosecution team led by Hildah Atusimiire and Patricia Ndagire, and Hildah at Uganda Revenue Authority informed the court that investigations are still ongoing.

Su was freed on a cash bail of sh25 million, and his sureties, lawyer Nasser Kibazo and Abdul Karim Senyondo, a partner at JDK Consultant Project Manager Limited, are to execute a non-cash bond of Shillings 200 million each. Bazekuketta said the accused would not abscond his trial if granted bail. He said Su has a fixed place of abode in Kapeeka, Nakaseke district.