By Ronald Kalumba
The business community in Lugazi municipality Buikwe district have cried out to Uganda Revenue Authority to re-assess their businesses and reduce on taxes which are forcing them out of operation.
They said this on Wednesday during the finance literacy initiative meeting in Lugazi town.
“We are charged heavily yet our income bases are small and are collapsing,” They said.
Sula Kiwanuka one of the businessmen said there are very many taxes imposed on them and they get confused because both URA and municipality officials approach them for taxes.
“We are confused with different kinds of taxes whereby we don’t know if even municipality collects for URA,” He said.
Rebbaca Namutebbi also said the taxes are too much in that they can’t save profits and are losing hope in business.
Vincent Seruuma the URA Assistant Commissioner for public and corporate affairs said their taxes are different from those of municipality and therefore advised businessmen not get confused with taxes.
Seruuma also URA has long realized that both tax and non tax business mismanagement have caused business failure.
“The pilot program sought to address the problems associated with the many informal business and the failure of start-ups to live beyond their first year,” Seruuma said.
He said this program was developed to equip small business owners with relevant tax information as well as financial literacy skills that can help them properly manage their businesses and meet taxpayers obligations.