Finance Act, 2007

FINANCE ACT, 2007. ARRANGEMENT OF SECTIONS. Section. PART I PRELIMINARY. 1. Commencement. PART II AMENDMENT OF FINANCE (NO. 2) ACT, 2002. 2. Amendment of section 9 of the Finance (No. 2) Act, 2002. PART III EXEMPTION OF MOTOR VEHICLE, TRAILERS AND ENGINEERING PLANTS FROM LICENSING UNDER THE TRAFFIC AND ROAD SAFETY ACT. 3. Exemption of motor vehicles, trailers and engineering plants from licensing under the Traffic and Road Safety Act. PART IV AMENDMENT OF FINANCE ACT, 2006. 4. Amendment of Finance Act, 2006. PART V WAIVER OF INTEREST AND PENALTIES ON VOLUNTARY DISCLOSURE OF TAX LIABILITY. 5. Waiver for voluntary disclosure. PART VI REMISSION OF VALUE ADDED TAX ARREARS OF LOCAL GOVERNMENTS. 6. Remission of value added tax arrears of local governments. Schedule Fees for services and various documents under the Traffic and Road Safety Act. FINANCE ACT, 2007. Commencement: 1 July, 2007.

al governments. Schedule Fees for services and various documents under the Traffic and Road Safety Act. FINANCE ACT, 2007. Commencement: 1 July, 2007.

An Act to provide for the alteration of the tax base for hides and skins; exemption of motor vehicles, trailers and engineering plants from road licences and fees, waiver of interest and penalties for voluntary disclosure of tax liability; amendment of the Finance Act, 2006 to change the fees relating to services and various documents under the Traffic and Road Safety Act and to extend the scope of the environmental levy and for related matters. PART I PRELIMINARY. 1. Commencement. This Act shall be deemed to have come into force on 1st"> July, 2007. PART II AMENDMENT OF FINANCE (NO. 2) ACT, 2002. 2. Amendment of section 9 of the Finance (No. 2) Act, 2002. The Finance (No.2) Act, 2002 is amended in section 9 by substituting for subsection (1) the following— "(1) There shall be charged and collected by Uganda Revenue Authority on any person exporting raw hides and skins of animals (fresh, or salted, dried, limed, picked or otherwise preserved, but not tanned, parchment dressed or further prepared) whether or not dehaired or split, a levy at the rate of US$ 0.25 per kilogram".

wise preserved, but not tanned, parchment dressed or further prepared) whether or not dehaired or split, a levy at the rate of US$ 0.25 per kilogram".

PART III EXEMPTION OF MOTOR VEHICLES, TRAILERS AND ENGINEERING PLANTS FROM LICENSING UNDER THE TRAFFIC AND ROAD SAFETY ACT. 3. Exemption of motor vehicles, trailers and engineering plants from licensing under the Traffic and Road Safety Act. (1) All motor vehicles, trailers and engineering plants, are exempted from the provisions of sections 15, 16, 17, 21 and 22 of the Traffic and Road Safety Act. (2) All arrears of licence fees on motor vehicles, trailers and engineering plants are remitted. (3) In any case where licence fees under section 16 of the Traffic and Road Safety Act had been paid for a period beyond the 30th"> day of June 2007, the owner of the motor vehicle, trailer or engineering plant in respect of which it was paid shall, on applying to the Uganda Revenue Authority be entitled to a refund of the prescribed fee calculated at the rate of one-twelfth, one-eighth or one quarter of the annual fee applicable for each complete month during which, but for the exemption of the licence fee would have remained valid. PART IV AMENDMENT OF FINANCE ACT, 2006. 4. Amendment of Finance Act, 2006.

which, but for the exemption of the licence fee would have remained valid. PART IV AMENDMENT OF FINANCE ACT, 2006. 4. Amendment of Finance Act, 2006.

The Finance Act, 2006 is amended— ( a ) in section 3, by inserting immediately after subsection (1) the following— "( 1a ) The environmental levy shall also apply to a person who imports used motorcycles, scooters, mopeds, bicycles and used spare parts of motor vehicles or any of the items mentioned in this subsection". ( b ) by substituting for the First Schedule to that Act, the provisions of the Schedule to this Act; ( c ) by inserting at the end of the Second Schedule to that Act the following— "( g ) used motorcycles, scooters, mopeds, bicycles and used spare parts of motor vehicles or any of the items mentioned in this paragraph 10%". PART V WAIVER OF INTEREST AND PENALTIES ON VOLUNTARY DISCLOSURE OF TAX LIABILITY. This section of the article is only available for our subscribers. Please click here to subscribe to a subscription plan to view this part of the article. Home | About Us |--> Terms & Conditions | Privacy Statement | Publishing Services | Contact Us Sitemap --> --> Copyright 2019. Blackhall Publishing. All Rights Reserved. Design and Developed By : Indiafin Technologies Ltd .