Tax payers face closure, prosecution and travel bans over Shs 60bn
On May 18, the Uganda Revenue Authority (URA) published a list of the country's top tax defaulters with a call to the public and public institutions to shun their businesses. The tax body said it took the decision to publish the list of the 230 defaulting clients with a corresponding total liability of over Shs 60 billion after they had ignored URA's advice and reminders to pay their outstanding tax arrears. The list also includes those that had signed MoUs agreeing on a payment plan with URA but had grossly breached these agreements. The taxes defaulted include corporation tax, Pay as Your Earn, which was deducted from employees but not remitted to URA, VAT, Import duty, withholding tax, and rental tax among others. The oil exploration company Neptune Petroleum Uganda Ltd, tops the lists with a Withholding Tax liability of Shs 5.53 billion followed by Polaris Seismic International Ltd with VAT arrears of more than Shs 5.4 billion/
...