News reaching our desk says that the government has presented the Income Tax (Amendment) Bill, 2025, to Parliament, proposing an extension of the tax exemption for the Bujagali Hydro Power Project until 30 June 2025.
However, the bill was introduced by the State Minister for Finance (General Duties), Hon. Henry Musasizi, on Tuesday, 4 February 2025, and seeks to revise section 21 of the Income Tax (Amendment) Bill, 2025, to grant Bujagali an additional one-year tax relief.
Between 2018 and 2021, the government accorded the power company similar tax exemptions. However, in 2023, Parliament declined the government’s proposal to grant Bujagali another five-year tax waiver.
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Furthermore, Henry Musasizi, the state minister for finance, urged Parliament to handle the bill swiftly and finalise it within a fortnight.
During the same session, presided over by Deputy Speaker Thomas Tayebwa, the government also introduced the Excise Duty (Amendment) Bill, which seeks to impose a levy of Shs1,500 per litre on un-denatured spirits with an alcoholic content of 80 percent or more, derived from domestically sourced raw materials.
In conclusion, the bill proposes a tax of Shs1,700 per litre on locally produced spirits with an alcohol content of less than 80 percent by volume.
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