The national tax regulatory body, Uganda Revenue Authority (URA) has called upon all her clients to clear their taxes before 30/ June/2020 to avoid the 2% interest.
As the month draws in to an end, many people are eager to get their hands on their salaries while others are tallying down their earnings and expenditure of the month to determine their profits or losses, however, don’t forget to clear your outstanding taxes.
Usually, the deadline for monthly tax payment is the end of the month, however, in a situation where a client defaults the expectations set by the Uganda Revenue Authority, a 2% interest shall be imposed upon them.
Hence the reason why URA has called upon all her clients to remind them just on time to pay their debts and avoid following shot if their expectations only to be fined later on.
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In a tweet reminding clients it states that, “ the 2% interest on late payment of tax can be avoided by paying all outstanding taxes by the deadline (30/June/2021)” hence whoever defaults shall have to pay the late payment fee.
With only two days to the stated date, it would only be wise to clear your debts sooner than later so as to avoid the inconvinience of having to pay an extra 2% on the tax. A word to a wise is enough