Category «National News»

More sensitization on new NSSF bill needed

By Ritah Kemigisa Tax experts have called for more sensitization about the new proposed amendments in the NSSF bill, 2019. This comes amid controversy with many Ugandans branding the amendments as unfair while some people have gone ahead to say the bill only seeks to double tax them. The managing director Global Taxation Services Ltd Albert Mbaine the proposed amendments are good enough are do not double tax savers. Mbaine says if passed the new amendments will rise the actual benefits received by the saver as compared to what they are getting in the current tax regime. According to the provisions of the bill, Member benefits shall be taxed at the point of payment to the member and taxation shall …

New NSSF bill a win-win for both gov’t and savers

By Ritah Kemigisa. The National social security Fund has asked Ugandans to appreciate the new proposed amendments to the NSSF bill, 2019 saying it will benefit both government and members. The proposed amendments have since attracted mixed reactions with majority labelling them unfair and a case of double taxation on the side of the savers. However the funds deputy managing Director Patrick Ayota says it’s a win for the savers who will access their money at the age of 55 years because they will get more since their income will be tax exempt much as their benefits will be taxed. He says it is also a win for government since they will get more taxes. Ayota meanwhile says for the …

Ministry explains NSSF bill

By Benjamin Jumbe. Ministry of gender labor and social development has called on all stakeholders to support the national Social security amendment bill 2019. Speaking at a media dialogue, the director labor in the ministry Martin Wandera said this new law comes not only to enhance social security of all citizens but also reduce risk and improve efficiency. Wandera said the right to social protection is for everyone but many people who were not formally employed and others in companies with less than 5 people were not benefiting. He now says the new law will enable self-employed people to contribute to NSSF for their retirement. The bill aims among other things to enhance the spectrum of benefits available to workers …

Byanyima speaks out on her new UNAIDS role

By Ritah Kemigisa. The new UNAIDS executive director Winnie Byanyima says she does not underestimate the timing of her latest appointment. The Ex OXFAM director was appointed to the new role by the United Nations Secretary General Antonio Guterres. Byanyima replaces Micheal Sidibe who stepped down in May this year following accusations of serious mismanagement. She brings on board 30 years of experience in political leadership, diplomacy and humanitarian engagement. Byanyima says she joins the Joint united Nations Programme on HIV and Aids (UNAIDS) at a critical time when the end of AIDS as a public health threat by 2030 is a goal that is within the world’s reach. She is however confident that working with all UNAIDS partners, she …

Gov’t asked to cap NSSF benefits tax

NSSF boss Richard Byarugaba

By Ritah Kemigisa Economists have asked government to cap the proposed tax on NSSF benefits. According to the NSSF Amendment bill, 2019, Member benefits shall be taxed at the point of payment and taxation shall be at the prevailing rate at the time of payment of the benefit. Ramathan Goobi a renowned economist says taxing benefits given at the age of 55 years is good because it rises the total amount of benefits one receives since the member’s income and the fund’s investment are tax exempt. He however says with the current crave by government to widen the tax base, there is fear the NSSF tax could be increased over time hence affecting the amount received by the members. Goobi …