Kampala, Uganda: This seems to be high time for Uganda Revenue Authority (URA) to start taxing individuals who earn from entertainment.
Uganda’s tax collection body has tasked beneficiaries of this industry to secure Tax Identification Number (TIN) and failure to comply could result in fines and imprisonment.
This has come in the name of widening the tax base of the country to cater for emerging priorities of the country.
Individuals or businesses that have been getting income are obliged by law to file returns with the tax body which include expenses, gross income, profit among others. This helps the tax body to compute the tax that one needs to pay depending on the returns filed.
Bbosa stated that for the entertainment sector; there are many people who have joined the sector and many of these probably may be unaware of the obligation of paying tax on income they generate from the industry.
Some of these individuals include; artists, performers, authors, producers, promoters, event managers, recreational space owners, bar owners and hotel owners.