Tax And Accounting
Personal Taxation
Individual Income Tax Compliance support, Expatriate Tax Compliance Support, pay-as-you-earn (PAYE) compliance support, National Social Security Fund (NSSF) compliance support, and Local Service Tax (LST) compliance are some of the services included in the broad range of our service offerings in this category.
Corporate Tax
We help you comply with their Corporate Income Tax (CIT) obligations with URA by:
- Supporting with TIN registration at URA
- Preparation and filing of original and amended provisional tax returns
- Preparation and/ or review of current and deferred tax computations to support year-end tax return preparation. Filing and tax payment
- Filing final self-assessment returns supported by audited financial statements and the attendant tax computations
- Attending to any queries raised by URA in relation to the filed returns and supporting schedules
- Preparation and/ or review of Transfer Pricing Documentation in accordance with Ugandan TP Rules, Regulations, Guidelines and Practices
- Provide updates on any changes in the tax laws, regulations, and practices and how the client should adapt their systems to comply with such changes
Value Added Tax (VAT)
We provide clients with VAT compliance support including, among others:
- Determination of when the obligation for compulsory VAT registration arises
- Support with actual VAT registration
- Help with classification of supplies (goods and services) as standard-rated, Zero-rated or exempt for clients dealing in mixed supplies
- Preparation and/ or review of the monthly VAT computations and accompanying returns to ensure output and input VAT have been accurately computed
- Review the method used for input VAT apportionment for accuracy and compliance with the law
- Compare the Sales/ Turnover per VAT for the year to the turnover in the audited financial statements for consistency
- Perform the annual VAT reconciliation for clients dealing in mixed supplies
Withholding Tax
We offer support with monthly withholding tax compliance including:
- WHT registration with URA
- Determination of designation status and its implications for the client’s WHT compliance obligations
- Preparation and/ or review of monthly WHT calculations for accuracy
- Preparation of monthly WHT returns based on the calculations and uploading into the URA portal
- Advising the client on the actual WHT payable or claimable based on the filed returns
Book-keeping/ Accountancy Services
This involves recording, classifying, and reporting financial transactions and events for a business or organization. It provides stakeholders with financial information to make informed decisions. Accounting services include;
- Financial statement preparation (balance sheet, income statement, cash flow statement)
- Financial analysis and planning
- Budgeting and forecasting
- Financial reporting and compliance
- Accounts payable and accounts receivable management
- Payroll processing