DATA UPDATE EXERCISE FOR ENTITIES REGISTERED WITH THE UGANDA REGISTRATION SERVICES BUREAU
he Uganda Registration Services Bureau (URSB) issued a public notice on the 15th of May 2023 calling
upon all entities registered with it to update their data.
In December 2022, URSB launched of an Online Business Registration System (OBRS). The OBRS is a
fully-fledged electronic system that facilitates seamless registration of companies, business names,
legal documents, insolvency and other related services.
FILING ANNUAL RETURNS WITH UGANDA REGISTRATION SERVICE BUREAU
All companies registered with the Uganda Registration Services Bureau (URSB) are required to pre- pare and file Annual returns with URSB in accordance with Sections 132 and 133 of the Companies Act, 2012. Annual Returns show the changes that have been made in the company during the previ- ous year, such as shareholding, membership, directorship and the company’s registered office, sec- retary, among others.
THE PROPOSED TAX LAW AMENDMENTS 2023: A STAKEHOLDER’S BRIEFING
On 30th March 2023, amendment bills to the Income Tax Act, Value Added Tax Act, Tax Procedures Code Act, and Excise Duty Act were gazetted. This is the first step before the bills are presented for debate in parliament, passed and signed into law.
THE REQUIREMENT TO SUBMIT BENEFICIAL OWNER’S INFORMATION
International beneficial ownership standards from the
Financial Action Task Force (FATF) and the Eastern and
Southern Africa Anti-Money Laundering Group (ES-
AAMLG) have fed into national efforts to strengthen
beneficial ownership transparency.
FILING THE FIA COMPLIANCE REPORT
Anti -Money laundering is governed by the Anti-money laundering Act of 2013 as amended together with its regulations. The act lays down strategies that must be employed by organizations to combat money laundering and terrorism financing whichinclude the following: Employing know your clients, customers system by doing due diligence; Identification of clients, customers, other persons […]
RENEWAL OF AN NGO PERMIT OF OPERATION
In order for an NGO to legally operate in Uganda, it needs a valid permit of operation, obtained from the National Bureau of Non-Governmental Organizations.
FILLING NGO ANNUAL RETURNS
An annual return is a yearly snapshot of an NGO’s activities to the NGO Bureau. The law requires that all Non-Governmental Organizations submit an annual return to the NGO Bureau
LOCAL SERVICE TAX IN UGANDA
The Local Service Tax was introduced by the Local
Governments (Amendment) (No.2) ACT, of 2008
which allowed local governments to levy, collect
and charge additional taxes in order to provide new
sources of revenue for local governments, and for
related purposes.
REGISTRATION WITH THE DATA PROTECTION OFFICE.
In today’s data-driven era, people are increasingly concerned about who may collect, use and disclose their personal information, with much emphasis on the right to privacy. Article 27 of the 1995 Constitution of the Republic of Uganda guarantees every person in Uganda the right to privacy. In particular, the Constitution prohibits Interference with the privacy of a person’s home, correspondence, communication, or other property.
TASLAF’S ANNUAL NGO LEGAL & REGULATORY COMPLIANCE TRAINING
An annual return is a yearly snapshot of the NGO’s activities to the NGO Bureau. The law requires all Non-Governmental Organizations file submit an annual return to the NGO Bureau.
