[UAH] IMF chief advises gov’t to dump tax incentives!!!

IMF chief advises gov't to dump tax incentives

Publish Date: Jun 17,


By Billy Rwothungeyo

 

In last week's reading of Uganda's National Budget 2013/2014, Finance minister Maria Kiwanuka fronted bold steps to widen the country's tax base. 

 

Ana Lucia Coronel, Uganda's IMF senior resident representative has offered a piece of advice in this regard; abandon tax incentives.

 

Tax incentives are exemptions from paying tax, offered to woo players into a specified activity or industry-in Uganda's case, tax incentives are used to attract more foreign investors.

 

"Right now, this (incentives) is not important. Uganda has a lot to offer. It has fertile land throughout the year. For people who want to invest, that is very good," she said.

 

Speaking to a select group of African journalists in her office at Bank of Uganda last week, Coronel argued that Uganda no longer needs such incentives as the climate is ideal to attract foreign direct investment without such favors.

 

Instead, Government should focus on improving environment for attracting foreign direct investment such as providing good infrastructure, governance, stability among others, she counseled.

 

She said subsidies most of the times do not serve their intended purposes as they benefit those who can do without them.

"It is very difficult to decide subsidies that will go only to the vulnerable people."

 

At a recent two-day workshop on Uganda's Local Capital and Financial Markets Summit held in Kampala, Kiwanuka warned investors that the incentives tap could be running dry, especially in the face of aid cuts.

 

"Investors want all weather good roads, piped water, and electricity. We (government) need to provide these, but how shall we deliver such infrastructure if you are busy asking for tax exemptions? Where will we get the money?" she said.

 

Last year, Action Aid International, an international NGO, released a report titled; "Tax competition in East Africa: A race to the bottom?" that said East African countries are competing against each other in providing tax incentives to little gain.

 

Particularly on Uganda, the report says the country's revenue losses from tax incentives and exemptions – at 2% of GDP, as measured by African Development Bank – amounted to almost twice the entire health budget in 2008/09 financial year.

 

"Unless East African governments deepen and speed up their commitment to reduce tax incentives, the region may experience increasing tax competition...Tax competition makes it harder for countries to maintain higher tax rates, leading to ever-declining rates and revenues," the report recommends

 

Coronel said it is even more prudent for Uganda to adopt tax reforms as the country is lagging behind regional peers in tax collections.

 

 "Tax revenues in Uganda are about 12.5% of GDP (gross domestic product) while neighboring countries have revenues of 17 to more than 20% of GDP."

 

"Income revenue, particularly tax revenue is still low by regional standards. There has to be some efforts to improve revenue tax collections," she said.

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AROMA PATRICK-THE TRUE SON OF UGANDA!!!THIS IS MY COUNTRY!!!THIS IS MY MOTHERLAND-THE PEARL OF AFRICA DOES NOT BELONG TO THE MAFIAS ALONE,I WHO IS WALKING IN THE SHADOWS OF DEATH DAILY  AND LIVING  ON BORROWED TIMES  UNDER GOD'S PROTECTION  SINCE I SHOULD HAVE BEEN DEAD,BURIED SIX FEET UNDER-I,THE UNWANTED AND HATED,THE MOST VILIFIED AND SABOTAGED,THE DOWNTRODDEN AND CRIPPLED,THE INNOCENTLY DELIBERATELY TORTURED AND PERSECUTED IS ALSO A SHAREHOLDER AND A STAKEHOLDER WITH FULL RIGHTS AND FREEDOMS TO PARTICIPATE IN ITS DEVELOPMENT AND TRANSFORMATION IN ALL SECTORS AND SPHERES-NO GOING TO EXILE,NO RETREAT AND NO SURRENDER TO THE MAFIAS!!!THE END MUST SET ALL UGANDANS FREE AND CREATE A BETTER LIFE FOR ALL!!! "THE RIGHT TO BE TREATED WITH RESPECT AND COURTESY,THE RIGHT TO LIVE AND THE RIGHT TO DIGNITY ARE NOT FAVORS TO BE BESTOWED BY ANYBODY:THEY ARE THE BIRTH RIGHT OF EVERY HUMAN BEING"DECLARES PRESIDENT YOWERI MUSEVENI AT THE BEGINNING OF HIS BUSH WAR IN 1981!!!page 182-The Minds of Achievers-The Seeds of Greatness by GRACE MUSIIME MUGYENZI,Get a copy of this book at Uganda Book Shop-Opposite Communication House,Kampala.

MANAGING DIRECTOR

CAMKWOKI INVESTMENTS LIMITED

Dealers in General Merchandise, Agro Input and Chemicals and Agro- Processing

LIRA BUS PARK  SHOP NO:57/ LABOURLINE TRADING CENTER AND BAL-PE MARKET ON ALEBTONG-BARR ROAD 

P.O Box 268-LIRA,TEL:+256-782-658-458

 A VICTIM OF APARTHEID ETHNICALLY ENTRENCHED GENOCIDAL CUM TERRORIST MAFIA DICTATORSHIP OF MUSEVENI,SUPER -BLOODY MAFIA STRATEGIST AMAMA MBABAZI,THE DEADLY SAM ENGOLA/MUSEVENI LANGO HENCHMAN  AND THEIR MAFIAS OPPOSITION/LANGO MAFIA  NETWORKS PLUS A VICTIM OF NORTHERN UGANDA NRM GRAND HUMAN RESOURCE DESTRUCTION POLICY OF ITS POTENTIALS AND GRAND NRM ECONOMIC SABOTAGE PLANS TO KEEP THE NORTH PERPETUALLY IN POVERTY/TURN US INTO BEGGARS,A NORTHERN UGANDA GENOCIDE SURVIVOR,MY RIGHT LEG BROKEN ON 24/JUNE/2001 IN  FRONT OF SAM ENGOLA LIRA HOTEL IN THE PRESENCE OF PRESIDENTIAL GUARD BRIGADE WHO PROTECTED MUSEVENI IN LIRA WHILE CAMPAIGNING FOR SAM ENGOLA THAT DAY-SURVIVING DEATH MIRACULOUSLY DUE TO GOD'S PROTECTION  AND I ESCAPED SEVERAL MURDER ATTEMPTS ON MY LIFE  RIGHT FROM 2000 TO DATE-POLITICALLY PERSECUTED,ECONOMICALLY SABOTAGED IN BUSINESS AND MY NGO PROJECTS, DENIED ALL THE OPPORTUNITIES IN LIFE/ EDUCATION-EXPELLED FROM MAKERERE UNIVERSITY IN FOURTH YEAR  WHILE PURSUING BACHELOR OF LAWS  AND COMPLETELY FRUSTRATED IN TERMS OF PERSONAL DEVELOPMENT,SOCIALLY DISLOCATED -ISOLATED AND LIVING IN PAINED PHYSICALLY,MENTALLY,EMOTIONALLY WHILE SPIRITUALLY FOUGHT WITH NRM EVIL SPIRITS(MAYEMBES/KIFARO) AND CULTURALLY UPROOTED BECAUSE OF OPPOSING/DISAGREEING WITH MUSEVENI & HIS NRM MAFIA POLITICAL  PARTY,HAILING FROM A WRONG REGION/ TRIBE/CLAN .I PATRICK AROMA TO THE BEST OF MY KNOWLEDGE AFFIRM AND CONFIRM THAT WHAT I HAVE STATED HERE IS THE TRUTH AND THE WHOLE TRUTH NOTHING BUT THE TRUTH.CAN YOU IMAGINE THIS BEING DONE TO YOU OR YOUR SON BY YOUR OWN GOVERNMENT??? A MAFIA GOVERNMENT IN MY OWN MOTHERLAND WHO HATES TO SEE MY PROGRESS, PERSONAL DEVELOPMENT AND PROSPERITY -IF THIS IS NOT APARTHEID THEN WHAT IS IT ??? FROM 1999-2004 I WAS ON TEL:NO 0772-621-761 which MTN MADE IT IN ACCESSIBLE/BLOCKED AND LATER SOLD TO ANOTHER PERSON BEFORE TAKING ON 0782-658-458.ALL MY COMMUNICATIONS AT THAT MATERIAL TIME CAN BE ACCESSED ON 0772-621-761. 

MY FIFTY YEARS DEADLY JOURNEY TO THE GOLDEN TRAGEDIES OF OUR MOTHERLAND-WHY I NEVER CELEBRATED THE  JUBILEE!!!

1962-1975-1 was not yet born

1976-1979-IDI AMIN MURDERED MY UNCLES THE LATE HON: AROMA MARTIN,EMOR BEN AND MY FATHER THE LATE PETER OGWAL 

1980-1986

WE SURVIVED ON RELIEF FOOD (YELLO POSHO +BEANS) under very difficult conditions as orphans though we had plenty of cattle that was eventually stolen by NRM/UPDF

1986-2000 My Childhood Destruction

NRA/UPDF STOLE ALL OUR CATTLE WHEN I WAS LOOKING AFTER THEM AND RAPED MY COUSIN SISTER IN MY PRESENCE

Museveni SURAMBAYA FIGHTER JETS BOMBS OUR HOME VILLAGE-FIVE KILOMETERS FROM LIRA TOWN AND I SURVIVED AS MANY INNOCENT CIVILIANS WERE KILLED PLUS LIVE STOCKS

Alice Lakwena War BEGAN that really exposed us to a lot of dead bodies bombed,shot and cut with matchetes LYING LIFELESS FROM OUR VILLAGE TO LIRA TOWN

Gen: David Tinyefuza OPERATIONS NORTH where even Children were not spared KIBOKO-we were thoroughly caned by UPDF as they arrested the 18 famous Northern Uganda Politicians at that material time

2000-2012

NRA Mafias start my PERSECUTION at Makerere University

Breaking of my leg

Expulsion from Makerere

Museveni STATE HOUSE PLUS THEIR MAFIA NETWORKS ON MY HOT PURSUIT DEVISING ALL STRATEGIES TO MURDER ME

 2012 ON WARDS

• STILL SURVIVING THE MAFIAS,LIVING IN FEAR AND PAIN,BEING HUNTED LEFT,RIGHT AND CENTER BY MAFIAS PLUS THEIR NETWORKS.
• ON 29/JANUARY/2004 DURING RADIO ONE EKIMEEZA TALKSHOW AT CLUB OBBLIGATTO I REVEALED THE PRESENCE OF MUSEVENI CHEMICAL AND BIOLOGICAL WEAPONS OF MASS DESTRUCTION BOUGHT FROM NORTH KOREA AND IRAN-THAT WAS HIDDEN UNDER GULU AIRPORT HUNKER AND THE UNITED NATIONS GRABBED,DESTROYED AND TOOK AWAY THE REMAINING ONES TO UNKNOWN DESTINATION-THIS IS ONE REASON WHY PRESIDENT MUSEVENI AND HIS MAFIAS CAN NEVER-NEVER-I SAY NEVER FORGIVE ME SINCE I EXPOSED AND SPOILED THEIR DEADLY DESTRUCTIVE AGENDA FOR NORTHERN UGANDA!!!

ON-TOP OF THE ABOVE,NO TERM LIMITS PROMOTING LIFE PRESIDENCY, CREATING HOPELESSNESS, UNCERTAINTY & CONSOLIDATING APARTHIED PLUS TRIBALISM, THERE IS MASSIVE POVERTY,UNEMPLOYMENT,HUMAN RIGHTS ABUSES,IMPUNITY,MURDERS,INEQUALITY,GENOCIDE,DISUNITY IN THE COUNTRY,ETC