With the view to enhance the effectiveness of UMA’s advocacy for a better business environment, the Board had the opportunity to engage the Parliamentary Committees on Budget and National Economy during the recently concluded Trade Fair.
The purpose of the engagement was to among others, ensure that UMA’s aspirations for the 2018/19 National Budget are well understood by Parliament so that the Tax Law amendments that shall be passed after the presentation of the 2018/19 National Budget resonate with UMA’s aspirations.
The purpose of this notice therefore, is to specially request for your proposals for legislative reforms touching especially tax laws like Value Added Tax Act, Income Tax Act, Excise Duty Act, Stamp Duty Act, Tax Procedure Code among others. In the submissions, endeavor to be specific when stating the problem at hand and remember to also provide the specific proposal to be considered for changing plus the rationale/justification for the proposal.
Please endeavor to submit as soon as possible but in any case not later than Friday, 27th October 2017. Submissions can be made to the Manager Policy, Mr. Oketcho Lawrence Michael, reachable at: .
Chairman Budget Committee, Hon. Lugoloobi Amos declares partnership with UMA
Hon. Lugoloobi Amos has pledged partnership with UMA, as this will help leverage the local manufacturers’ position through budget proposal level to implementation level.
Ms Barbara Mulwana, the Chairman UMA hosted Hon. Lugoloobi alongside Hon. Nsamba George, the Vice chairman of Infrastructure committee to the UMA 25th Uganda International Trade Fair. With guidance from the UMA chairman, the various stalls of exhibitors were visited by the guests who thereafter were led to the UMA Board room where a number of issues affecting manufactures were presented by Ms Barbara Mulwana. These include; the unpredictable VAT on items, High cost of power, the delayed local content mainstreaming, the need to leverage patient capital, the refugee crisis, and the need for Government tangible support for exports among other challenges currently faced by manufacturers.
Mr. Richard Mubiru, the chairman economics subcommittee UMA, requested the chairman of the Budget Committee to revise VAT schedule to be more predictable for planning purposes especially while allocating resources for production. She cited vulnerable sectors to this instability of the VAT allocation on milk products, textile, Steel among others.
In his response, Lugoloobi called upon the chairman and the policy committee of UMA to submit petitions early enough to create more time for some new policy changes that need to be incorporated in the annual budgets. He also highlighted that stability of a country’s economic growth is rooted from its ability to industrialize and increase on the exports; this, he said amounts to not only sustainable growth but also to steady growth of Uganda’s GDP as well.
“UMA’s influence on the macroeconomic positions for specific sectors is really pivotal and once taken into action, they will see this country transform to greater heights. Thus a need to have more core extensive engagements from a macro level to budget implementation in full solidarity with UMA.” Hon. Lugoloobi Amos said.
He pledged partnership to work hand in hand with UMA chairman to work out a mechanism of making local industrialists more competitive. “Because if we are not competitive, other giants from other countries will take up the market.” he said.
He further highlighted that the national level consultations have been finalized on ways to make our local industry more competitive. Thus more reason to have manufacturers’ policy position papers presented on time to facilitate these consultations for more balanced budget allocation processes and implementation.
In conclusion, Hon. Lugoloobi Amos thanked Ms. Barbara Mulwana for looking out for him and pledged to offer any assistance to promote interests of industrialists.