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 be at the prevailing rate at the time of payment of the benefit.

Related Stories…………..

Ministry explains NSSF bill

 

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