Finance Bill passed
Oct 01, 2004
PARLIAMENT has passed the Finance Bill 2004, which was intended to give powers to the Government to collect taxes to raise revenue to finance the budget.
By Vision Reporters
PARLIAMENT has passed the Finance Bill 2004, which was intended to give powers to the Government to collect taxes to raise revenue to finance the budget.
MPs on Thursday approved an amendment to include glasses, carpets and curtains on the list of hotel equipment and items to be exempted from taxes so long as they were engraved with a company logo and im-ported with the approval of the finance ministry.
Following a meeting between the budget committee and finance state minister Mwesigwa Rukutana, the House agreed not to impose tax on galvanised iron sheets.
Committee chairperson Beatrice Kiraso said the committee had agreed with the minister that the Government would review the policy so that those who added value got incentives.
However, Rukutana insisted that it was not government policy to tax raw materials.
PARLIAMENT has passed the Finance Bill 2004, which was intended to give powers to the Government to collect taxes to raise revenue to finance the budget.
MPs on Thursday approved an amendment to include glasses, carpets and curtains on the list of hotel equipment and items to be exempted from taxes so long as they were engraved with a company logo and im-ported with the approval of the finance ministry.
Following a meeting between the budget committee and finance state minister Mwesigwa Rukutana, the House agreed not to impose tax on galvanised iron sheets.
Committee chairperson Beatrice Kiraso said the committee had agreed with the minister that the Government would review the policy so that those who added value got incentives.
However, Rukutana insisted that it was not government policy to tax raw materials.