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Uganda decisions
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UGAFODE Microfinance Limited v Uganda Revenue Authority (Application 90 of 2023) [2023] UGTAT 66 (23 November 2023)
The Tribunal dismissed UGAFODE Microfinance Limited’s challenge to an income tax assessment on unpaid interest, holding the deduction claim was not proved.
Goldstar Insurance Ltd v Uganda Revenue Authority (Civil Appeal No. 26 of 2016) [2019] UGCommC 3 (20 February 2019)
The court held that contingency reserves, though statutorily required under the Insurance Act, do not constitute allowable deductions under the Income Tax Act because they are not expenditures or losses incurred in the production of income. The sums appropriated to contingency reserves remain under the control and ownership of the insurer and may be invested for the insurer's benefit. The mere statutory requirement to set aside such reserves does not transform them into deductible expenses for tax purposes. Furthermore, the Appellant failed to provide evidence that the tax assessment was time…
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New Vision Printing & Publishing Corporation v Uganda Revenue Authority (Civil Appeal No. 78 of 1999) [2000] UGHC 24 (21 March 2000)
The court held that under the Income Tax Decree 1974, as amended, rental installments in a finance lease with an option to purchase are not deductible expenditures for tax purposes. The principal component of such payments is considered capital expenditure, which is expressly excluded from allowable deductions by section 15(1)(b). Only the interest component is deductible, as it is specifically provided for in section 14(3)(a). The court rejected the appellant's reliance on international accounting standards and foreign case law, emphasizing that local statutory provisions govern the treatmen…
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