Uganda Revenue Authority (URA) has issued a public notice informing the general public that effective 1st September 2024, a person whose annual turnover is UGX 500,000,000 or more is required to submit / file their income tax return with audited financial statements prepared by a registered member of the Institute of Certified Public Accountants of Uganda.
This is in line with Section 16 (5) of the Tax Procedure Code Act.
This requirement is applicable to both original and amended income tax returns for the following categories:
- Final Income Tax Returns for Non Individuals
- Final Income Tax Returns for Individuals
- Final Income Tax Returns for Partnerships
What this means to you
A taxpayer with a year of income ended 30th June 2024 and has an annual turnover of UGX 500,000,000 or more is mandated to submit their final income tax return together with the audited financial statements by 31st December 2024.
KPMG is available to assist you with complying with the above requirement.
Contact our Tax and Regulatory team
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