Headline Verdana Bold Understand. Reflect. Respond. Kenya Budget Analysis Seminar June 2018
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1 Headline Verdana Bold Understand. Reflect. Respond. Kenya Budget Analysis Seminar June 2018
2 Contents Contents Economic overview Budget overview Direct tax measures Indirect tax measures East Africa tax measures Questions & answers Budget Analysis Seminar
3 Economic Overview Gladys Makumi Budget Analysis Seminar
4 Growth rate (%) Global Outlook GDP trends driven by continued strong growth in Asia, investment recovery in developed economies and recovery in several commodity exporters. Global real GDP growth rates 4% 3% 2.8% 2.8% 3.0% 3.1% 3.0% 3% 2.4% 2.3% 2% 2% 1% 1% 0% F 2019F 2020F F denotes f orecast Budget Analysis Seminar Source: Economist Intelligence Unit
5 Real GDP growth rates (%) Sub-Saharan Africa (SSA) Outlook 2.5% economic growth in 2017 driven by higher commodity prices, improving weather conditions, ongoing infrastructure outlays. SSA real GDP growth rates 8% 6% 4% 2% 0% East Africa South Africa West Africa -2% Budget Analysis Seminar Source: Absa Research
6 Real GDP growth rates (%) East Africa Outlook Rwanda s economic growth is set to accelerate the most in the period on the back of a solid business operating environment, increasing government investment and strong population growth. East Africa real GDP growth rates 7.0% 6.9% 6.5% 7.0% 8.1% 8.6% 5.3% 5.6% 6.6% 5.1% 5.8% 5.8% 5.5% 7.0% 7.0% 5.8% 6.7% 7.2% 7.6% 7.8% 7.0% 5.6% 5.6% 3.0% 6.5% 6.8% 7.0% 7.3% F 2019F 2020F Source: Absa Research, Business Monitor International Uganda Tanzania Kenya Rwanda Budget Analysis Seminar
7 Kenya Overview Consideration Political Economic Social Implication President Uhuru Kenyatta has pledged to mobilise State resources to support growth in manufacturing, one of the Big Four Policy Agenda in his legacy term to August 2022 together with universal healthcare, food security and affordable urban housing. Kenya is currently implementing the Medium Term Plan III (MTP III) (the third phase of Vision 2030), which runs from Vision 2030 is Kenya s national long-term development blue-print aiming to transform Kenya into an industrialising, upper middle-income country providing high quality of life to all its citizens by As at 2017, Kenya had a population of 48m people with a population growth rate of 2.7% p.a., according to the World Bank. Kenya has the highest unemployment rate in the East African Region and stood at 12.5% in 2015, with unemployment rate of 25% among the urban youths and 9% of the youths in the rural areas Budget Analysis Seminar
8 Kenya Economy Consumer demand, urbanisation, East Africa Community (EAC) integration, structural reforms and investment in infrastructure are expected to be the key drivers of growth going forward. Improved agricultural output is expected to contain inflationary pressures. Kenya real GDP growth vs inflation 8.0% 6.9% 6.6% 6.3% 4.6% 5.3% 5.6% 5.8% 5.1% 5.8% F Source: Absa Research Real GDP growth rate Inflation Budget Analysis Seminar
9 Kenya Economy Sectoral contribution to GDP (%) in 2017 Real estate, 7.4% Financial and insurance activities, 7.5% Wholesale and retail trade, 7.6% Public administration and defence, 4.3% Education, 4.1% Construction, 5.8% Transportation and storage, 7.7% Agriculture, forestry and fishing, 31.5% Manufacturing, 8.4% Source: Kenya National Bureau of Statistics Budget Analysis Seminar
10 The Big Four agenda priority areas of focus Pillars of the Big Four agenda Manufacturing Universal healthcare Food security Affordable housing 2.4bn 44.6bn 20.3bn 6.5bn The Big Four agenda was launched in December 2017 by President Kenyatta. The key purpose of this agenda is to transform Kenya s standards of living and put Kenya on the path of becoming an upper middle-income nation by The Government has identified four strategic areas of focus ( Pillars ) that will enable realisation of the aforementioned purpose. Key indicators that will gauge the success of this agenda include employment/job creation, cost of living, income inequality, poverty levels. Budget Analysis Seminar
11 Kenya Big 4 Agenda Manufacturing Key initiatives aimed at bolstering the manufacturing sector Key objective Support value addition, create jobs and raise the manufacturing sector s contribution to GDP to 15% by Develop key infrastructure Strengthen existing legislation Current situation Manufacturing sector s contribution to GDP averaged 9% between 2013 and Provide finance and investment incentives to develop modern factories Support value addition across the entire value chain Budget Analysis Seminar
12 Kenya Big 4 Agenda Universal healthcare Key objective Provide 100% universal health coverage ( UHC ) to all Kenyans under National Hospital Insurance Fund ( NHIF ) by 2022 Current situation 36% of Kenyans were covered in 2017 under NHIF Key initiatives aimed at increasing universal health coverage Digitise NHIF health information to improve efficiency and enable easier online registration Align NHIF Act to UHC and review the Insurance Act Expand the Linda Mama (free maternity) programme to mission and private hospitals Enlist at least 100,000 community health volunteers to recruit new members Budget Analysis Seminar
13 Kenya Big 4 Agenda Food security Key objective Provide food security and improve nutrition to all Kenyans Key initiatives to ensure food security in Kenya 01 Enhanced large-scale production Current situation Cost of food as a percentage of income averages 47% Recent drought and unpredictable weather patterns have contributed to food shortages Increased smallholder productivity Reduced cost of food Budget Analysis Seminar
14 Kenya Big 4 Agenda Affordable housing Key initiatives to enable provision of affordable housing Key objective Provide at least 1 million affordable and decent houses to Kenyans by 2022 Provide incentives to invest in low-cost housing Establish a housing development fund to mobilise funds and provide social housing Current situation A deficit of at least 150,000 houses p.a. High cost of mortgages deter low-income earners from accessing affordable housing finance Establish a mortgage finance company via PPP to provide low-cost mortgages Review existing legislations to ensure sustainable housing development Budget Analysis Seminar
15 Other Recent Trends Allocation by China Export-Import Bank towards the development of Phase 2A of SGR Capacity of proposed coal fired power plant in Lamu Banks 2017 profits expected to reduce on implementation of IFRS9 KES 150bn 1,050M W KES 150bn #SGR #COAL #IFRS9 Source: Ministry of Health, Ministry of Energy, Central Bank of Kenya Budget Analysis Seminar
16 Budget Overview Fred Omondi Budget Analysis Seminar
17 Government Revenue Allocation KES Trillion Kenya County Allocation, 376 billion CG Development Expenditure, 625 billion CG Recurrent Expenditure, 1550 billion CG Recurrent Expenditure CG Development Expenditure County Allocation Budget Analysis Seminar
18 Kenya Budget Financing KES Trillion 1,949.2 Billion Billion 48.5 Billion Tax Revenue Grants Deficit Financing Budget Analysis Seminar
19 Budget Sources of Revenue Income Tax Value Added Tax Excise Duty Import duty Ministerial A-I-A 2018/ /18 Other Taxes Railway DevelopmentLevy Investment Income Budget Analysis Seminar
20 Tanzania Budget Financing KES 1.44 Trillion 800 Billion 395 Billion 95 Billion 32 Billion 118 Billion Tax Revenue Non-Tax Revenue LGAs Own Source External Grants & Concessional Loans Domestic & External non-concessional Loans Budget Analysis Seminar
21 Uganda Budget Financing KES 0.9 Trillion 450 Billion 144 Billion 171 Billion 45 Billion 9 Billion 27 Billion 45 Billion 9 Billion Tax Revenue Domestic Refinancing External Refinancing - Loan External Refinancing - Grants Budget Support Appropriation in aid Domestic Financing Petroleum Fund Budget Analysis Seminar
22 Rwanda Budget Financing KES Trillion 191 Billion Billion 46.8 Billion Tax Revenue Grants Debt Budget Analysis Seminar
23 Direct Tax Measures Budget Analysis Seminar
24 Corporate Income Tax Manufacturers to be eligible to claim an additional 30% of their electricity bills subject to conditions set by the Ministry of Energy. Clarification that transfer of property by general insurance companies to be taxed as capital gains. Deemed dividends to include distribution of any cash or assets to a shareholder or person related to the shareholder, discharge of any obligation or settlement of debt on behalf of a shareholder or use of any amount for the benefit of the shareholder or related person. Replacing the compensating tax provisions with corporate tax on dividends paid out of untaxed profits. Budget Analysis Seminar
25 Withholding Tax Withholding tax of 20% introduced on demurrage charges paid to non-residents. 5% withholding tax introduced on insurance premiums paid to non-residents excluding insurance premiums paid for insurance of aircrafts Budget Analysis Seminar
26 Presumptive Income Tax Presumptive tax of 15% of the business permit or license fee introduced for businesses whose turnover is below KES 5 Million per annum. Does not apply to corporate entities; rental income or income from management and professional services. Budget Analysis Seminar
27 PAYE The proposal to introduce a 35% tax rate on individuals earning more than KES 750,000 per month under the draft Income Tax Bill 2018 has been dropped. The current top rate of 30% will be maintained. Amendment of the Employment Act to introduce a 1.0% contribution on employee s gross monthly salary and a matching contribution by the employers to go into the National Housing Development Fund. Budget Analysis Seminar
28 Tax Amnesty The period of tax amnesty on foreign incomes has been extended from 30 June 2018 to 30 June Under the tax amnesty, only income accrued up to 31 December 2017 is eligible. The returns and accounts for the year 2017 have to be filed before the deadline and the income declared must be transferred back to Kenya. Funds declared under the amnesty will be exempt from provisions of the Proceeds of Crime and Anti-Money Laundering Act or any other act relating to reporting and investigation of financial transactions. The exemption will not apply to proceeds of terrorism, poaching and drug trafficking. Budget Analysis Seminar
29 Tax Dispute Resolution Tribunal proceedings shall not be adjourned where a panel member is not available or ceases to be a member. Settlement of tax disputes outside the Tribunal is now set to be embedded in law. The time to be taken in such an arrangement shall be excluded from the 90 day period allowed for a Tribunal to issue a ruling. Budget Analysis Seminar
30 Tax Administration Tax Procedures Act Late payment interest increased from 1% to 2%. Late payment penalty of 20% re-introduced. Late filing penalty for individuals reduced to 5% of tax due or KES 2,000 whichever is higher. Applications for extension of due dates for tax returns filing to be made at least 15 days before due date for monthly returns and 30 days for annual returns and Commissioner to respond at least 5 days before due date. Budget Analysis Seminar
31 Tax Administration Tax Procedures Act Late filing penalty for income tax returns: For corporate bodies, the penalty will be 5% of tax payable or KES 20,000, whichever is higher, whereas for individuals, the penalty will be 5% of tax payable or KES 2,000, whichever is higher. Limited grounds for waiver of penalty or interest, i.e. hardship or equity, impossibility or undue difficulty or expense of recovery. Budget Analysis Seminar
32 Tax Administration Tax Procedures Act Objection to an assessment to remain valid where a person applies for extension to pay tax not in dispute. Obligations of tax representatives restricted to the specific taxes for which they are appointed. New provisions and penalties introduced in relation to unauthorized access or improper use of computerized tax systems. Budget Analysis Seminar
33 Betting and Gaming Taxes 20% penalty and 2% interest introduced on late payment of Betting, Lotteries, Gaming and Prize Competitions tax. Budget Analysis Seminar
34 Stamp Duty The Stamp Duty Act to be amended to include exemption from stamp duty on instruments executed for purposes of collection and recovery of tax. The Stamp Duty Act to be amended to exempt stamp duty from instruments relating to activities of Special Economic Zones. Budget Analysis Seminar
35 Other Key Changes The Banking Act to be amended by repealing Section 33B thus lifting the capping of interest rates. A Robin Hood Tax at the rate of 0.05% to be introduced on any amounts of KES 500,000 or more transferred through banks and other financial institutions. Proposed increase of the capital gains tax rate from 5% to 20% in the Income Tax Bill, 2018 to be dropped. Budget Analysis Seminar
36 Income Tax Measures Key changes under the Income Tax Bill, 2018 Budget Analysis Seminar
37 Corporate Income Tax Key changes under the Income Tax Bill, 2018 The corporate tax rate of 30% to apply on taxable income of up to KES 500m. Any amount in excess of KES 500m to be liable to 35% tax. Newly listed companies to be liable to a lower corporate tax rate of 25% for the subsequent 5 years if at least 40% of the issued shares are listed. Branch taxation: same corporate tax rate as a local company, i.e. at 30%/ 35%; however additional repatriation tax of 10% will be imposed on the after tax profits and change in net assets. Budget Analysis Seminar
38 Corporate Income Tax Key changes under the Income Tax Bill, 2018 Deemed interest provisions to apply to any loan from a controlling non-resident advanced at a lower rate that the market interest rate applicable in the lender s country. Thin capitalisation ratio reduced to 2:1. No deduction shall be allowed in respect of payments made by a taxpayer, which are subject to withholding tax if the taxpayer fails to withhold tax on them as required. Capital allowances provisions to be overhauled. Budget Analysis Seminar
39 Corporate Tax - Transfer pricing Key changes under the Income Tax Bill, 2018 Transactions between resident entities or PEs and a non-resident person located in a preferential tax regime subject to TP. Transactions with non-resident entities where the transaction or the non-resident person lacks economic substance will be subject to TP. Introduction of a penalty of 2% of the value of the controlled transaction for failure to maintain TP documentation. Information for the foreign entities involved in intercompany transaction shall be availed to the Commissioner upon request. Country-by-country reports to be filed with the KRA within twelve months after the financial year-end. Prescribed TP for commodities and exports through related agents Budget Analysis Seminar
40 Withholding Tax Key changes under the Income Tax Bill, 2018 Increase the withholding tax rate from 5% to 10% for payments to non-resident television, radio, internet and satellite operators. Withholding tax rate reduced from 12.5% to 10% in respect of management and professional fees paid by licensed petroleum contractors and mining companies to non-resident subcontractors. Increase in withholding tax rate from 5% to 10% for dividends paid to resident persons by a co-operative society including SACCOs. Increase the withholding tax rate from 2.5% to 3% on the income of non-resident aircraft or ship owners, operators or charterers. Budget Analysis Seminar
41 PAYE Key changes under the Income Tax Bill, 2018 Non-taxable per diems which were previously capped at KES 2,000 per day will be aligned to the Public Service prescribed rates. Taxable benefits under Employee Share Option Schemes (ESOPs) registered with the Commissioner shall accrue to the employee at the date of exercising the option. The tax rate applicable to pensions or retirement annuities received by non-resident individuals has been increased from 5% to 10%. The minimum taxable threshold for Non-cash benefits of KShs. 36,000 p.a. has been done away with. Pensions earned in respect of employment in other East Africa Community states will not be taxable in Kenya. Budget Analysis Seminar
42 East Africa: Key Direct Tax Measures Budget Analysis Seminar
43 Income Tax - Uganda The 10 year Income Tax exemption /Holiday which was granted to SACCOs in 2017 has been repealed. SACCOs will now be required to pay tax. Income tax holiday granted to industrial park or free zone developers as follows: 10 year holiday if capital is USD 200 million or more. 5 year holiday if capital is USD 30 million or in the case of a Ugandan citizen investor, USD 10 million. Group entities interest deduction capped to 30% of tax earnings before Interest, Tax, Depreciation and Amortization (EBITDA) with excess allowed for carry forward for up to 3 years; Thin capitalization rules scrapped. Entities with successive tax losses for seven years to pay turnover tax of 0.5%. A direct or indirect change of 50% or more within a 3 year period for an entity to be considered a sale subject to Income Tax in Uganda. The Inter-Governmental Agreement on the East African Crude Oil Pipeline to have the same status as a Double Taxation Agreement (DTA). Budget Analysis Seminar
44 Income Tax - Uganda Introducing a different withholding tax rate of 1% for agricultural supplies above UGX 1 million made to designated agents instead of the 6% withholding tax that was previously applicable. Introducing a 10% final withholding tax on all commissions paid by telecom companies for airtime distribution or provision of mobile money services. African Trade Insurance Agency exempted from Income Tax. Taxes due and unpaid by Government as at 30 June 2018 to be waived. Mediation introduced as one of the mechanisms for resolving tax disputes brought before the Tax Appeals Tribunal (TAT). TAT given powers similar to the High Court to award damages, interest or any other remedy against any party. Inclusion of the weekly and monthly return filling requirements for persons in the Gaming and Betting industry. Budget Analysis Seminar
45 Income Tax - Tanzania Reduction of corporate income tax rate from 30% to 20% for new investors in the pharmaceutical and leather industries for five years from 2018/2019 to 2022/2023. The Minister responsible for finance will no longer be restricted from providing income tax exemption to government projects financed by non-concessional loans i.e. loans with market based interest rates. The current provisions of the income tax legislation limits the Minister s power to exempt income derived from such projects. Introduction of withholding tax exemption on interest paid on Government loans provided by Banks and Financial Institutions to finance government projects. The Government intends to introduce 100% tax amnesty on interest and penalties to encourage compliance. The amnesty will be valid from 1 July 2018 to 31 December Budget Analysis Seminar
46 Income Tax - Rwanda There were no measures on income taxes in this years budget. Rwanda introduced a new Income tax Law (Law N o 016/2018 of 13/04/2018 establishing taxes on income) Some of the changes introduced in the new law are: Introduction of capital gains tax on the transfer of shares at a rate of 5%. Bringing the indirect transfer of shares into the scope of taxation in Rwanda. Capping of the deductibility of service payments to non-residents (related and unrelated) to 25 of the turn-over. Bringing director s fees into the scope of withholding tax at 30%. Introducing the requirement for companies to maintain transfer pricing documentation. Requirement to withhold tax on dividends paid to resident companies. The widening of the definition of paid to include accruals for services that are held for more than 6 months in a tax period. Budget Analysis Seminar
47 Indirect Tax Measures Lillian Kubebea Budget Analysis Seminar
48 Kenya Budget Analysis Seminar
49 Value Added Tax VAT exemption introduced on the following items Equipment for the construction of grain storage facilities. Additional raw materials for the manufacture of animal feeds. Parts imported or purchased locally for the assembly of computers. Budget Analysis Seminar
50 Value Added Tax Other key changes Taxable value of mobile cellular to be determined in accordance with the VAT Act. Late filing penalty to be moved from the VAT Act to the Tax Procedures Act but penalty remains the same. Wheat and barley seed which are currently VAT-able to be exempt. Maize (corn) seed to be subject to VAT. Garments and leather footwear manufactured in an EPZ to be VAT-able upon importation. Transportation of cargo to destinations outside Kenya to be deleted from exempt schedule. Alcoholic and non-alcoholic beverages supplied to DEFCO to be exempt. Exemption of goods and services for direct and exclusive use in projects under special operating framework with the Government. Exemption of postal services (postage, rental of post boxes and mail bags). Budget Analysis Seminar
51 Customs Duty Stay of application of the CET Grant of stay of application on the following products: Assorted range of metal and metal products at varying increased rates. Non electric cooking appliances at 35%. Leather and footwear at 35% or USD 10 per pair. Refined edible oil products at 35% or USD 500/MT. New textiles and apparels at 35% or USD5/Kg. Particle boards, Medium Density Fibre board (MDFs), plywood & block boards at various rates. Aluminium Roll on Pilfer Proof (Bottle Tops) at 35% or USD 0.01 per piece. Assorted paper and paperboard products at 35%. Budget Analysis Seminar
52 Customs Duty Stay of application of the CET Extension of stay of application of the CET rate on rice, products of iron or non alloy steel of heading 7209, LPG, leaf springs, worn clothing, road tractors for semi-trailers, safety matches, and styrene acrylic. Budget Analysis Seminar
53 Miscellaneous Fees & Levies Introduction of export levy on copper waste and scrap at 20%. Exemption of goods imported for implementation of projects under special operating framework arrangement with the Government from RDL and IDF. Budget Analysis Seminar
54 Excise Duty Increase of excise duty on: private passenger motor vehicles (diesel powered of above 2500cc and petrol powered of above 250cc) from 20% to 30%. fees charged for money transfer services by cellular phone service providers from 10% to 12%. kerosene from Kshs. 7,205 per 1000 litres to Kshs. 10,305 per 1,000 litres. Introduction of a Robin Hood Tax of 0.05% on any amounts of KShs 500,000 or more transferred by banks, money transfer agencies and other financial service providers. Introduction of excise duty on sugar confectionery and chocolate at Kshs. 20 per Kg Inflationary adjustment of specific rates to be effected annually. Budget Analysis Seminar
55 Excise Duty 16% of excise duty collected on money transfer services by cellular phone service providers to be paid into the Sports, Art and Social Development Fund. Clarification of excise duty on bottled or similarly packaged water. Exemption of: Alcoholic and non-alcoholic beverages supplied to DEFCO. Goods procured for direct and exclusive use in the implementation of projects under the special operating framework arrangements with the Government. Budget Analysis Seminar
56 Customs Duty Budget Analysis Seminar
57 Customs Duty - All EAC Countries Exemption from import duty on the following: Motor cycles and bicycles for racing. Motor cars, sightseeing buses and overland trucks. Amendments to the EAC CET Comprehensive review of the EAC CET. Decrease of import duty on Polyvinyl alcohol from 10% to 0%. Tariff split of HS Code to incorporate motor boat ambulances at 0%. Budget Analysis Seminar
58 Customs Duty All EAC Countries The following items to be included in the EAC duty remission scheme: Motor CKD cycle kits. Industrial sugar. Inputs for manufacture of pesticides, fungicides & acaricides. Inputs/raw materials for manufacture of energy saving stoves. Inputs for manufacture of toothbrushes. Inputs for manufacture of roofing tiles coated with acrylic paint. Aerosol cans. Gum base. Budget Analysis Seminar
59 Customs Duty All EAC Countries Stay of application of CET Rates Grant of stay of application of CET rate on flat-rolled products of iron or non-alloy steel at 10% or 250 per MT instead of 10%. Budget Analysis Seminar
60 Customs Duty Tanzania Grant of stay of application on the following products: Gypsum powder. Crude palm oil, crude edible oils semirefined & refined edible oils. Nails, tacks, drawing pins, corrugated nails & staples. Safety matches. Potatoes. Chewing gum & other sugar confectionary. Tomato sauce. Mineral water. Meat and edible offal. Sausages and similar products. Extension of stay of application of the CET on wheat grain and Electronic Fiscal Devices (EFD s) used to collect Government Revenue. Budget Analysis Seminar
61 Customs Duty Tanzania The following items were included in the duty remission scheme Paper used to manufacture exercise books and textbooks. Paper used as raw materials for manufacturing of gypsum. Self-adhesive label. Printed aluminum barrier laminates (ABL). Inputs used to manufacture pesticides, fungicides, insecticides, and acaricides. RBD Palm stearin (palm oil). Imposition of import duty at 35% of consumption sugar imported under specific arrangements. Budget Analysis Seminar
62 Customs Duty Rwanda Grant of stay of application on the following products: Road tractors. Transport vehicles with carriage capacity of over 5 tons. Public transport vehicles that carry over 25 persons. Processing machines and other materials to be used in textile and hides manufacture. ICT equipment. Equipment used by banks in money circulation (ATM cards, PoS, etc.) Second hand clothes & shoes. Imported rice and sugar. Imported products designated for army shops. Reduction of duty on bicycles used for championships from 20% to 0%. Budget Analysis Seminar
63 VAT Budget Analysis Seminar
64 VAT Uganda Introduction of WHT agents on Vatable payments exceeding UGX 37,500,000; Introduction of mandatory Electronic receipting and invoicing using an electronic fiscal device (EFD) linked to the URA. Tax payable on an assessment remains due and payable notwithstanding an objection or appeal. Interest due and payable on overpayments and late refunds from the URA capped to the principal tax. Tax relief provisions arising from International Agreements to only take effect after both Cabinet ratification and Parliamentary approval. Exemption status to be applied to Bibles and Qur ans, feasibility study, design and construction for a developer of an industrial park or free zone whose investment is at least USD 200 million, among others. Zero rating of locally produced education materials. Budget Analysis Seminar
65 VAT - Tanzania VAT exemption introduced on the following items Packaging materials produced for use by local manufacturers of pharmaceutical products. Imported animal and poultry feeds additives. Government projects funded by non-concessional loans (by the power of the Minister of Finance). Agreements entered between the Government of Tanzania and a financial institution/bank who is acting/representing another Government (by the power of the Minister of Finance). Sanitary pads. Budget Analysis Seminar
66 VAT - Rwanda The VAT regulations on Electronic Billing Machines will be amended in due course. Our view is that these amendments are in line with the introduction of the internet based software (EBM-V2) which is viewed to benefit taxpayers through: Reduced cost of doing business (the previous EBM-V1 was purchased by the tax payer); and Ability of suppliers to track their stocks vs. the sales made Budget Analysis Seminar
67 Excise Duty Budget Analysis Seminar
68 Excise Duty - Uganda Excise duty on use of internet at UGX 200 per user per day of access. Refund of excise duty paid on goods that are later exported. Amendment to penalty related provisions. Amendment of excise duty from ad valorem to hybrid rates on some spirits and wine. Excise duty rates increased on various financial and telecommunication services. Introduction of excise duty on opaque beer, powder for making juice or taste drinks, motor cycles, cooking oil, mobile money transactions. Excise duty removed on some construction materials, furnishings and fittings. Budget Analysis Seminar
69 Excise Duty - Tanzania Increase in excise duty on imported water, beer, non-alcoholics, fruit juices, wine, spirits, cigarettes, cut rag or cut filler. Introduction of excise duty on wine produced with domestic fruits other than grapes e.g. bananas, tomatoes. Introduction of Electronic Tax Stamp from 1 September Budget Analysis Seminar
70 Excise Duty - Rwanda Amendment of the consumption tax law to increase consumption tax on cigarettes and alcoholic beverages. Budget Analysis Seminar
71 Questions and Answers Budget Analysis Seminar
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