These companies are apparently the "cash cows" of Uganda government. They, plus
990 other tax contributors, contributed 84% of total tax revenues collected for
the last financial year.
What is the population of Uganda?
Now, do you really need to read the entire article to see how African
manpowers are being descimated systematically by these quasi leaders, some,
like Mu7 postured as Marxist before coming to power?
Most if not all of these companies are foreign owned, siphoning profits to
countries of origin. So, what are in store for wananchi? Exploitation,
exploitation and exploitations!! What about the tax monies collected?
Personal coffers!!
Unfortunately many of our so called intellectuals and learned persons, will
read the entire article and would not even see what I am driving at, for the
artilce mentioned nothing in relation to African manpower; the reason Africans
are a thousand years behind all races!!
Thats the problem with our past and even present intellectuals!
Only violence will stop these idiots, trust me. Otherwise, the country and
its indigents are doom!
Its even amazing how the writer could write without critical analysis on a
broader perspective on this.
Ocii
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Top taxpayers PETER NYANZI KAMPALA
MORE than 84 percent of the total revenue collected by the Uganda Revenue
Authority (URA) last financial year was from the top 1,000 taxpayers, a list
released by the tax body yesterday indicates.
Top on the list for the third year running; was telecommunications giant MTN,
which saw its tax contribution soar to Shs174billion - indicating a growth of
Shs54 billion up from the Shs120 billion paid the previous year. This means
that Ugandans spend more money on airtime than on any other service, with the
other two phone networks, utl and Celtel also in the top 20. The three paid
over Shs 208bn.
Partly as a result of the power crisis, Ugandans are also continually consuming
more petroleum products, a fact that has propelled oil company Shell Uganda -
to the second position with Shs140.86 billion. Shell's tax contributions have
grown by Shs35 billion from Shs105.5 billion paid the previous year.
Ugandans are also gulping more alcohol, giving Uganda Breweries and Nile
Breweries third and fourthposition respectively among the top taxpayers - for
the second year in a row.
At about Shs110 billion, Uganda Breweries Ltd paid twice more taxes than it did
in 2005/06; while Nile Breweries paid about Shs60 billion, up from about Shs49
billion the previous year.
With its taxes growing to about Shs50 billion from Shs45 billion, BATU bounced
back from seventh position the previous year, to wrest the sixth position from
Total Uganda.
But the fastest riser among the top 20 was thermal power company Aggreko, which
in 10th position, saw its tax payments grow from Shs20.85 billion in the
previous year to Shs37.77 billion during the period under review.
URA Assistant Commissioner for Public and Corporate Affairs Patrick Mukiibi
congratulated the top 1,000 tax payers for making it to the list.
"We do appreciate their support throughout the year and wish them the very best
for the new year as well," he said.
He said the tax body has planned a Taxpayers' Appreciation Day on September 15
at which some of the top taxpayers will be recognised.
Utility company Umeme, which saw its tax payments go up to about Shs34 billion
from Shs19 billion - an indicator that more consumers are now probably paying
for their power.
In the banking sector, Bank of Uganda joined the top 15 for the first time with
a contribution of Shs35 billion up from just Shs10 billion the previous year on
the back of an increase in withholding tax which shot up to more than Shs26
billion. But the year was not particularly good for Stanbic Bank, whose taxes
dropped by about Shs1 billion to Shs32.3 billion, which saw it drop from 10th
position the previous year to 15th.
Celtel, which last month hit the one million-subscriber mark, also saw its
taxes almost double from Shs11.2 billion to Shs21 billion. Currently, more than
8 percent of the total revenue is contributed by the three telecommunications
companies. Interestingly, the number of companies paying over Shs1 billion also
grew from 237 the previous year to 264. Additionally, the last of the top 1,000
paid about Shs185 million up from Shs170 million - both sure indicators that
more and more companies are becoming more profitable.
Monitor Publications Ltd also joined the club of companies paying more than
Shs4 billion in taxes for the first time in its 15-year history.
In the period under review, Finance Minister Dr Ezra Suruma projected total
revenue collections at about Shs2,567 billion of which taxes were estimated at
Shs2,525 bn and non-URA revenue at Shs42 bn. But only months into the financial
year, the government raised URAs target to Shs2,555 billion.
Thanks to more revenue generated by taxpayers, the tax body comfortably
surpassed the target by about Shs70 billion with a total collection of Shs2,
625.71 billion.
---------------------------------
Ask a question on any topic and get answers from real people. Go to Yahoo!
Answers. _______________________________________________
Ugandanet mailing list
Ugandanet@kym.net
http://kym.net/mailman/listinfo/ugandanet
% UGANDANET is generously hosted by INFOCOM http://www.infocom.co.ug/
The above comments and data are owned by whoever posted them (including
attachments if any). The List's Host is not responsible for them in any way.
---------------------------------------
