Category «Business»

NSSF speaks out on IGG probe

The NSSF is in the news again, this time over alleged misuse of savers money. The National Social Security Fund has denied allegation of misuse of contributors’ money in the dubious purchase of properties. This follows media reports indicating that the Inspector General of Government had opened up wide ranging investigations into the fund and …

Top 100 mid-sized company survey launched

Companies should look for more financial options other than commercial banks to set up shop. The Managing Director of National Social Security Fund, Richard Byarugaba says dependence on financial institutions for long term financing could cost companies longevity on the market. Speaking at the launch of the Top 100 mid-sized companies’ survey 2013 today, Byarugaba …

Pioneer Easy Bus given 30 more days

The Uganda Revenue Authority has given Pioneer Easy Bus Company another 30 days within which to pay the Shs.8 billion tax arrears. This has been revealed by the URA manager for debit collection Abdul Salaam Waiswa. He however does not explain the circumstances under which the decision was made. Meanwhile the tax body is also …

URA explains high fuel prices

The rising fuel prices have been explained. The Uganda Revenue Authority has blamed the trend on the deficit recorded in international trade taxes. Currently a liter of petrol goes for Shs.3,900 up from 3,800, while that of diesel goes for Sh.3,600 up from 3,400 last month, a trend that the sector players have blamed on …

Business back to normal:URA

Barely a week after the Kenyan elections, business is getting back to normal not only in Kenya, but the entire East African region. The Uganda Revenue Authority says it expects more fuel to be brought into the country today. This follows reports that 1.5 million liters of fuel was cleared by the authority to address …