URA studying transfer pricing regulations
THE Uganda Revenue Authority (URA) is looking at ways of implementing the new transfer pricing regulations and double taxation agreements (DTA) in the East African Community.
By Mark Owor
THE Uganda Revenue Authority (URA) is looking at ways of implementing the new transfer pricing regulations and double taxation agreements (DTA) in the East African Community.
“As the Ugandan economy gets integrated in the global economy, including the setup of multinationals, the issue of transfer pricing needs to be handled,†said URA Commissioner General Allen Kagina.
Transfer pricing relates to the inter-company pricing arrangements between related parties. Such transactions across borders are increasing rapidly and are becoming more complex.
Kagina said the main purpose of transfer pricing was to enhance the overall value of corporate companies, adding that there were instances when this type of transaction could be abused.
She noted that one of the major reasons behind regional integration was to create large investment areas and markets.
Kagina, who was last week giving opening remarks at the second business consultation forum at the Kampala Serena Hotel, said global transactions had given rise to international double taxation.
THE Uganda Revenue Authority (URA) is looking at ways of implementing the new transfer pricing regulations and double taxation agreements (DTA) in the East African Community.
“As the Ugandan economy gets integrated in the global economy, including the setup of multinationals, the issue of transfer pricing needs to be handled,†said URA Commissioner General Allen Kagina.
Transfer pricing relates to the inter-company pricing arrangements between related parties. Such transactions across borders are increasing rapidly and are becoming more complex.
Kagina said the main purpose of transfer pricing was to enhance the overall value of corporate companies, adding that there were instances when this type of transaction could be abused.
She noted that one of the major reasons behind regional integration was to create large investment areas and markets.
Kagina, who was last week giving opening remarks at the second business consultation forum at the Kampala Serena Hotel, said global transactions had given rise to international double taxation.