Government exempts AYA and other 14 private companies from taxes

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The SpearNews 2weeks ago reported that as government seeks to add more tax to the poor, it at the same time sought permission from parliament to spend 77bn to clear taxes for private companies that have been operating normally and minting profit. It has now exempted the same and more from paying taxes as reports our reporter from parliament.

 READ Government seeks to spend 77bn to clear taxes for 8 private companies.

David Bahati, the Minister of State for Planning yesterday presented to the Parliamentary Committee on Budget a list of companies they had resolved to exempt from taxes in the next financial year so as to smoothen their operations

Top on the list is Aya Investment whose owner has been in controversies since Shimon DEMONSTRATION school was relocated for his CHOGM hotel which never came to be. Lately he has unresolved rape cases against his workers and a recent bribe scandle in which minister Kabafunzaki was arrested, charged then suspended

The listed companies are;

Aya Investments Uganda Ltd , Bidco Uganda, NYTIL, Vinci Coffee Industry, Quality Chemicals Uganda, Steel and Tube Industries, Roofings and Rolling Mills, Avsi Foundation, Bujagali Energy Company, Guanghou Dongsong Energy Group, National Cement Company, Fine Spinners and All Nation Christian Care

 

Bahati also revealed that 50% percent tax reduction is to be offered to investors who will start investments in a radius of 50 km outside Kampala.

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