The Ministry of Finance, Planning, and Economic Development is set to host a high-profile conference on tax incentives, tax policies, and tax administration for Ugandan investors.
Scheduled to take place on September 4, 2024, at Hotel Africana, Kampala, the conference is a significant step in the government’s ongoing efforts to foster economic growth and attract more investment into the country.
Hon. Evelyn Anite, the Minister of State for Finance, Planning, and Economic Development (Privatization and Investment), announced the conference during press conference emphasizing its importance for Uganda’s economic development.
“This conference is a key initiative in our ongoing efforts to promote investment and economic growth in Uganda,” she stated.
The conference will focus on several critical areas aimed at enhancing the country’s investment climate:
Review of the Current Tax Framework: Experts will conduct a comprehensive review of Uganda’s existing tax system, examining its role in driving economic development. The goal is to identify areas where tax policies can be optimized to better support growth.
Incentives for Investors: The discussions will cover the range of tax incentives available to Ugandan investors, particularly those in crucial sectors such as manufacturing, agriculture, tourism, and ICT. These incentives are designed to stimulate growth and development in these vital areas.
Efficient Tax Administration: A key topic will be the role of efficient tax administration in creating a conducive business environment. Effective tax management is essential for enhancing Uganda’s appeal as an investment destination.
Digital Conformity Mark: The conference will explore the opportunities and challenges associated with the digital conformity mark, a tool aimed at improving compliance and transparency in the tax system.
Tax Dispute Resolution: Ensuring fairness and transparency in the tax system is a priority for the Ministry. The conference will focus on the mechanisms in place for resolving tax disputes, ensuring that investors feel secure and treated fairly.
“This conference reflects the Ministry’s commitment to ensuring that our tax policies and administration are aligned with Uganda’s broader economic objectives,” Hon. Anite emphasized.
She noted that the event would provide a platform for Ugandan investors, policymakers, and the business community to engage in meaningful discussions on optimizing the tax system for the benefit of all Ugandans.
The Ministry is optimistic that the outcomes of this conference will further enhance Uganda’s investment climate, encouraging greater participation from Ugandan investors and driving economic growth. “We look forward to very productive deliberations and eagerly anticipate implementing the outcomes of this conference to enhance our nation’s investment climate further,” said Hon. Anite.
As Uganda continues to position itself as a prime investment destination in Africa, initiatives like this conference are crucial for aligning tax policies with the country’s economic ambitions, ensuring sustainable growth and development for all Ugandans.
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