VAT Deferment
Автор: Mutatinensi Dedan CPA, CTA
Загружено: 2025-08-24
Просмотров: 20
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🔹 *VAT Deferment: A Tax Incentive by URA*
Importers of Plant & machinery for business can leverage URA's VAT deferment incentive. It allows postponement of VAT payment for 15 days for existing businesses or 12 months for startups, extendable by another 12 months upon request.
🔹 *What It Means:*
This initiative eases cash flows for importers by delaying VAT payments on Plant and Machinery imports.
🔹 *Who Qualifies:*
Any individual/business importing Plant and Machinery for taxable goods production can apply for this benefit.
🔹 *Approval Conditions:*
(i) Must be VAT registered with URA
(ii) Plant and Machinery must be for business use
(iii) VAT deferral amount exceeding USD4,000
(iv) Up-to-date VAT returns filing
🔹 *Termination Criteria:*
The facility ends if Plant and Machinery isn't utilized as intended or the deferment period concludes.
For insights on leveraging tax incentives in Uganda, connect with Demo Consult for expert tax advice.
Tax Simplified, Growth Amplified
#Taxplanning #UMA #Taxcompliance #Manufacturers #URA #DemoConsult
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