{UAH} WBK: UGANDANS PAY TOO MUCH TAX
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3:21 PM |
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There is property tax, income tax, local service tax, Pay as you earn, earn as you pay, pay as you go, go as you pay..... The list is endless ; all targeting the same Ugandan. KCCA now does nothing else except collect tax..,, they can't even pick garbage!!
If you get a net of 1m from your rentals ,government will take 20% which is 200k, you remain with 800k, you see ,you remain with the biggest part. I can't be positive about the Rental tax they r imposing on landlords coz we hv had to surrender a lot to have the rental units in place for them to start enjoying 20% of my rent.
Taxes are not bad if their is accountability for them. It is disheartening to pay hefty taxes that are used to pay MP's bribes and fund the useless snaking presidential entourage and security and then lack social amenities in the country. People cheat their fellow citizens without mercy ,take for example now the kidnaps and demand for ransom. All materials used to construct the property is taxed.
Businesses are taxed left and right, and that is why most of them are closing up, or don't last long. Therefore, Try this- you audit your business annually. Your audit report shows how much loss or profit you made in the past year. The profit is taxed 30%. In most cases you have to be very shrewd and hide your profits through reinvestments. Even the Bible supports this.
To pay income tax is not bad but 20% is a lot in my opinion. If only some thing can be done to reduce to 6 or 10%. And an accountability of how these taxes are used to transform our public amenities and infrastructures. This system works elsewhere and citizens are compliant. I'm however afraid these monies will end up in few pockets
OK, granted 20% appears reasonable to some people, until you consider that the property being taxed was acquired through a loan at interest rates of up to 25% you also have to pay the town council. Basically owning property is a loss making business.
Our policies are outdated. We need a strategy to spin economic growth. you can't squeeze resources to support an entire country out of only 20% of the population while the other 85% languishes in the villages. The 20% is held at ransom and it will never work. Where are the vocational skills that youth can use to create jobs? When did government create a new industry? Apart from licensing Chinese and other shoddy investors who sexually abuse our women and pay them next to nothing to sort synthetic hair in factories like Darling, etc? You remember the AGOA girls? Sometimes I feel our governments in Africa are a big joke. We need meaningful investment, job creating government and new factories.
I had forgotten tank tax, if you have a water tank at home, they are coming for their share inform of tax monthly
This is the price of apathy. We've just gotten on the Mugabe highway to life presidency... wait for when someone is 93 yrs and 1 million isn't even $100. We ain't seen anything yet. This is when we discover why countries with life presidency have such hostile business environment and impossible cost of living... tetunaba!
If you get a net of 1m from your rentals ,government will take 20% which is 200k, you remain with 800k, you see ,you remain with the biggest part. I can't be positive about the Rental tax they r imposing on landlords coz we hv had to surrender a lot to have the rental units in place for them to start enjoying 20% of my rent.
Taxes are not bad if their is accountability for them. It is disheartening to pay hefty taxes that are used to pay MP's bribes and fund the useless snaking presidential entourage and security and then lack social amenities in the country. People cheat their fellow citizens without mercy ,take for example now the kidnaps and demand for ransom. All materials used to construct the property is taxed.
Businesses are taxed left and right, and that is why most of them are closing up, or don't last long. Therefore, Try this- you audit your business annually. Your audit report shows how much loss or profit you made in the past year. The profit is taxed 30%. In most cases you have to be very shrewd and hide your profits through reinvestments. Even the Bible supports this.
To pay income tax is not bad but 20% is a lot in my opinion. If only some thing can be done to reduce to 6 or 10%. And an accountability of how these taxes are used to transform our public amenities and infrastructures. This system works elsewhere and citizens are compliant. I'm however afraid these monies will end up in few pockets
OK, granted 20% appears reasonable to some people, until you consider that the property being taxed was acquired through a loan at interest rates of up to 25% you also have to pay the town council. Basically owning property is a loss making business.
Our policies are outdated. We need a strategy to spin economic growth. you can't squeeze resources to support an entire country out of only 20% of the population while the other 85% languishes in the villages. The 20% is held at ransom and it will never work. Where are the vocational skills that youth can use to create jobs? When did government create a new industry? Apart from licensing Chinese and other shoddy investors who sexually abuse our women and pay them next to nothing to sort synthetic hair in factories like Darling, etc? You remember the AGOA girls? Sometimes I feel our governments in Africa are a big joke. We need meaningful investment, job creating government and new factories.
I had forgotten tank tax, if you have a water tank at home, they are coming for their share inform of tax monthly
This is the price of apathy. We've just gotten on the Mugabe highway to life presidency... wait for when someone is 93 yrs and 1 million isn't even $100. We ain't seen anything yet. This is when we discover why countries with life presidency have such hostile business environment and impossible cost of living... tetunaba!
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"When a man is stung by a bee, he doesn't set off to destroy all beehives"
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