Apply for Corporate Profit Tax and Gains Tax In Uganda By Yourself
- Check out for the Office of Uganda Revenue Authority. For the purpose of paying the corporate profit tax as well as capital gains.
- Present the required document to the Revenue Officer. These documents are mentioned in the required documentation section of this page.
- They are:
-
- Tax Identification Certificate;
- Income proof
- Audited accounts.
- Certificate of registration for business;
- Articles and Memorandum of Agreement
- You will receive an corporate profit tax form and capital application form to fill out. Tax revenue officers will evaluate the application and calculate the amount of tax to be paid.
- A revenue agent will take them to the bank so that you can pay the taxes that is due .
- Once you have paid any tax that is owed, you’ll receive a Certificate of Company Tax Clearance Certificate.
Required Documents For Apply for Corporate Profit Tax and Gains Tax
- A copy of the certificate of incorporation.
- List of staff members and their annual wages.
- The Directors Tax Clearance Certificates (now Electronic Tax Clearance Certificate)
- Letter of request for registration.
Office Locations and Contacts
Uganda Revenue Authority Headquarters:Plot M193/M194, Nakawa Industrial Area,
P.O. Box 7279 Kampala, Uganda.
Phone: +256 414744000, 0800117000 (toll free)
Email: info@ura.go.ug
Website: Uganda Revenue Authority
Others offices Kampala South situated at Old Kampala Mosque,
Kampala North, located inside Bwaise (Mulago Kalerwe Round about).
Uganda Revenue Authority (URA)
Crested Towers (Tall Tower)
Tel: 041-7443000, 041-7443134
Uganda Revenue Authority (URA)
Nakawa (HQRS)
Tel: 041-7440000, 041-7442042
Eligibility
- Companies that operate in Uganda are qualified for this program.
Fees
- Tax on corporate income up to net profits of 10,000,000 20 percent
- Net tax profit from corporate income tax greater than 10,000,000 at 25 percent
- Tax on capital gains 20 percent
- Tax on branches 20 percent
- Withholding tax
- Dividends 0%
- Interest 20%(1)
- Patents, Know-how and other know-how. 20%(1)
- Certain services are provided by foreign entities 20%(1)
- Tax on branch remittances at 0 percent
- Net operating loss (years)
- Go back 3 years.
- The losses incurred during long-term projects are able to be carried over to the project without restrictions.
- Forward 5 years
- Final tax that is charged on the gross amount of payments. The tax rate can be reduced by an agreement on taxation.
Validity
- 12 months
Processing Time
- Processing can take 5 days.
The Information You Need
- Name of the Taxpayer
- Company name
- Taxpayer Identification Number
- The Business or Trade Name is the name of the Taxpayer
- Bank Details
- Name of Bank
- Branch of Bank
- Account Number
- Total Income Chargeable Income Total Tax Payable
The Document is required
Capital Gains Tax (CGT)
- It is tax-deductible on the total gain that accrues to either a person or a business when transferring property located in Uganda regardless of whether the property was purchased prior to the 1st of January, 2014. The tax was effective on the 1st January 2014.
- A non-resident who is made a resident will be considered to possessing all assets other than those held by person when he becomes resident. Thus, the person has to pay 30% taxes on capital gain.
Corporative Tax
- It is a type of Income Tax which is charged to corporate bodies like Limited Companies, Trusts, and Co-operatives for their annual income.
- Companies that are located outside of Uganda however operate from Uganda or have an office in Uganda pay tax on their corporation. Tax on earnings earned in Uganda only.
Information that can be useful
- Capital gains tax results due to the disposal of an asset owned by a company like the stock market, land, or buildings. The disposal of an asset happens after an asset has been transferred, exchanged, or sold through the taxpayer. A capital gain is defined by the price of sale less the initial cost of the asset.
- A typical 30% tax rate on income is imposed on corporate entities. This applies to residents and non-residents of corporations. A company is resident of Uganda in the event that it is incorporated or established in accordance with Ugandan law, or if it has control and management of its business operations within Uganda and if the bulk of its business activities are conducted within Uganda during the tax year. The tax rate for residents is based on global earnings, while non-residents are only taxed on income earned in Uganda.
- For non-resident corporations as well as the paying the normal corporate tax rate of 30, a tax withholding amount of 15 percent is charged on the department of an overseas corporation on the profits returned to the headquarters.