It’s
either about Uncle Barry (POTUS Barack Obama) visiting Kenya and Ethiopia (a
fact no one is talking about given that he blasted the presidents), Hon
Mbabazi's ambitious presidential bid (which now seems like a joke) or Hon
Byandala heading to the coolers (someone had to take the bullet, willingly or
not). There is practically the same news in town, nothing much to muse about.
Why not give you an insight of what happened at fellowship?
Wednesday is the
day the Rotaract Club of Bukoto has its fellowship, and this week the
tangerines buddy group took the horns by the cow, or should I say a cow by its
horns. Oh well, either way, it was a fellowship that was a worthwhile.
In the
president's absence, IPP Zahara chaired fellowship, and this she did well. With
the Rotaract norms, make ups & visits, introductions and Rotary information
out of the way, it was time for the guest speaker to indulge us on the topic of
Tax as was expected of him.
A past interact
president in his high school days and later on a secretary for the Rotaract
club of Uganda Martyrs Nkozi, the question everyone asked was why this man had
quit the Rotaract family.
Edgar from KPMG
went on to take us through indirect and direct taxes before diving into the
Income Tax Act and the Value Added Tax Act to discuss the various taxes levied
in Uganda as summarized below;
Pay as You Earn,
is levied on individuals and is the obligation of the employer based on the
residency status of the individual and the amount of money they earn.
Corporation tax
is levied on companies on all business income after allowable expenses as
described by the Income Tax Act.
Withholding tax
is an advance tax and is the responsibility of the person making a payment to
the supplier.
Value Added Tax
is an indirect tax that is levied based on the nature of the supply and can be
standard rated, zero rated or exempt as per the provisions of the Value Added
Tax Act.
The talk about
Tax Identification Numbers (TINs) got many by surprise given its necessity and
importance in the days that lay ahead.
Rotarian Solomon
from mother club gave the vote of thanks and awarded the guest speaker with a
certificate of recognition from the club.
July babies
were then celebrated. Cake was on the house and celebrations were in order. P.P
Amina and Hellen from the club were joined by P.E Martin of Kyambogo for the
cake cutting.
The final toast
followed shortly, and fellowship was done.
A round of
applause to all our guests who joined from the various Rotaract Clubs.
Do join us next
week for another fun and informative fellowship.
