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The Uganda Profits Authority (URA) has reviewed its before directive to remove motor autos courting nine a long time old or much more from the warehousing regime to adopting a a person-calendar year reduction tactic on warehousing regime for these motor autos.

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With the new measure, which took influence on July 1, motor autos older than 13 many years shall pay taxes even though at the to start with ports of entry into the East African Neighborhood (EAC). URA’s Commissioner Standard John Rujoki Musinguzi, during an engagement with utilized auto dealers at the authority’s headquarters in Nakawa, settled to lessen the warehousing period of time of motor motor vehicles aged nine to 12 decades, to only six months without the need of extension.

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The current practice makes it possible for an importer to warehouse this sort of cars up to nine months. He more told the automobile dealers that URA regarded the outcome of the existing global inflation, which is continue to impacting corporations in all sectors.

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“Considering the present-day economic landscape and the geo-politics that has induced creeping inflation in the place, it is essential that URA adopts a far more gradual but progressive strategy to the restriction of warehousing of applied Motor Vehicles,” Musinguzi explained.

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He also famous that 5,000 autos are re-exported to South Sudan, Democratic Republic of Congo and Burundi. Marvin Ayebale, the association spokesperson, stated 83 for each cent of the re-exported motor cars slide in nine to 15-yr category.

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