Navigating company/ business registration and taxation in Uganda.

Описание: The inquiries addressed in today's episode are gathered from the Ask me about the law social media communities which is ;

TWITTER;   / askmeaboutthe  
LinkedIn;   / ask-.  .
Facebook;   / askmeabouthelaw  
Youtube;
Tiktok;
Instagram;

listen to the full episode here https://anchor.fm/nagawa-eve-joanne/e...

DISCLAIMER.
This podcast is not a law firm but rather provides general information only. It is not intended to provide advice concerning any specific set of facts, nor is it intended to be relied on as legal or financial advice. As such, it should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney and a tax adviser.

Questions addressed in this episode;
1.) If I register for VAT, how is it accessed? And is it determined and is it mandatory to pay/ file returns monthly or only when you earn? And how do I claim?

2.) Knowledge of tax returns in relation to companies?

3.) I don’t want to register my company because taxes are too high. If I continue operating without paying taxes my business will thrive

3.) I have a company that has not been filing taxes since inception. I get the penalty email each and just ignore it. I would like to eventually come clean without having to pay all these penalties.

What do you advise? should I close the company yet I have already built a client profile and I don’t want to lose them when I get a new name but if the financial risk is higher then I register afresh with a new name?

4. Can I register a subsidiary/ sister company under the previous company name, would it be independent of the mother companies tax issues?

5.) I am requesting for a breakdown of the registration process?

6.) I used to do a business that requires a tin, I got one and soon business stopped but I was taxed even when I stopped business URA continued to tax me.. how do I go about .. because now I am supposed to pay about 2 million in taxes but I was out of business .. is their a way I can go about this because I am planning to register a company and this my affect my credit.