Matsiko Advocates

24/08/2023

Is your Data Safe??

17/08/2023

Ready, set, digitise !! Uganda's preparation in the wake of the 5th Global Industrial Revolution.

15/08/2023

A bona fide purchaser for value without notice may not be considered fraudulent in a land sale transaction. Here’s what the High Court has pronounced on the subject recently.

09/08/2023

Join us this evening!

31/07/2023

Wangaala Ayi Ssaabasajja!!

27/07/2023

Tune in to our Twitter Space at 3:00pm today as the experts dissect the issues at hand.
https://twitter.com/i/spaces/1yNGaNZMPNQJjv

13/07/2023

Court allows Watoto church to redevelop its property

27/06/2023

18/06/2023

13/06/2023

On the 22nd day of May 2023, the High Court of Uganda issued a significant ruling in the case of Luwaluwa Investments v Uganda Revenue Authority HCCMA No. 1336 of 2022, while determining an appeal arising from the Tax Appeals Tribunal. The court ruled that proceeds from the sale of mortgaged propert...

12/06/2023

Uganda Revenue Authority has finally operationalized Sections 24(11) and (12) of the Tax Procedure Code Amendment Act 2021. The Tax Procedure Code (Alternative Dispute Resolution Procedure) Regulations, 2023, issued on the 6th day of March 2023, aim to provide an option for aggrieved taxpayers to ap...

06/06/2023

A judge has denied Adidas' request to refreeze $75 million relating to Kanye West's Yeezy brand. This comes after Adidas and Kanye West ended their long-standing partnership, which led to a legal dispute over the handling of remaining funds and inventory associated with the Yeezy brand.

Adidas had requested the court to hold the $75 million until the full terms of the dissolution could be agreed upon and finalized. However, the judge denied this request, meaning that the funds will not be frozen for the time being.

The legal decision is a significant development in the ongoing dispute between West and Adidas. Further legal proceedings will determine the final resolution of the financial and contractual disagreements stemming from the end of their partnership.

03/06/2023

19/05/2023

The weekend can officially begin 🙏

18/05/2023

An Equity Bank customer has sued the lender for breach of data privacy after his confidential banking information was allegedly shared with a third party.

16/05/2023

Thoughts?

Ed Sheeran has defeated a copyright infringement lawsuit involving his Grammy-winning song "Thinking Out Loud" and the Marvin Gaye classic "Let's Get It On."

12/05/2023

The Succession (Amendment) Act 2022 which was assented to by the president on the 10th of April 2022 amends the Succession Act, Cap. 162. The Amendments sought to: a. Bring the law in conformity with the Constitution b. Provide for gender equality in accordance with Articles 21 and 33 of the constit...

11/05/2023

The Court of Appeal has dismissed the Uganda Revenue Authority's (URA) appeal, in which it sought to uphold the suspension of the "Transaction Value Method" for customs valuation on imported used motor vehicles. Background In 2010, URA issued a notice suspending the primary method of valuation for i...

10/05/2023

At The CEO Magazine, we are driven by the notion that every business is a story that deserves to be shared.

03/05/2023

http://matsikoadvocates.com/blog/Revolutionising-Taxation-Exploring-the-Exciting-Proposed-Tax-Amendments-for-2023-04-29.html

“A lawyer with a briefcase can steal more money than a thief with a gun.” Don Carleone. - The Godfather, Mario Puzo. The Uganda Revenue Authority has presented proposed amendments to the tax regime that will take effect in July 2023 before Parliament. Upon analysis, these amendments can be compa...

27/04/2023

https://cointelegraph-com.cdn.ampproject.org/c/s/cointelegraph.com/news/emojis-count-as-financial-advice-and-have-legal-consequences-judge-rules/amp

Former SEC branch chief Lisa Braganca warned the public of the legal consequences of using the emojis.

26/04/2023

URA OPENS WHT EXEMPTION APPLICATIONS FOR THE YEAR 2023/2024

The Uganda Revenue Authority (URA) has issued a public notice regarding the application process for the Withholding Tax Exemption for the Financial Year 2023/2024. The notice covers applications for exemptions from both withholding income tax and value-added tax. URA indicated that it will only receive online WHT exemption applications and no physical applications shall be considered. A taxpayer who applies for the Withholding tax exemption will be vetted based on a compliance checklist and only compliant taxpayers will be granted the WHT exemption. The grant of the WHT exemption status is subject to automatic revocation before the end of the 12 months if it is determined that a taxpayer or its associate(s) fail to regularly comply with its tax obligations during the year 2023/2024.

The implications of the withholding tax exemption are significant. A taxpayer interested in applying for the Withholding tax exemption must review their tax affairs prior to the submission of the exemption application to ensure that the taxpayer is compliant with the relevant tax laws and procedures. Once the compliance status of the taxpayer is confirmed, an online WHT exemption application must be submitted by 20 June 2023. A taxpayer who is granted the WHT exemption status must ensure that they remain compliant with all the relevant tax laws and procedures. The exemption will encourage business or taxpayers to comply with their tax obligations so as to benefit from exemption.

Compliant taxpayers will benefit from the withholding tax exemption, and as such, their cash flow will be boosted. The exemption will reduce the amount of income that would otherwise be taxed, making professional services more affordable for the clients and as such, access to professional services will increase. The approved applicants will enjoy the exemption for a period of one year running from 1st July 2023 to 30th June 2024. Improved record keeping through the compliance checklist appendix will also help taxpayers fully track their records and improve their record keeping. However, non-compliant taxpayers shall not benefit from the withholding tax exemption, and the tax exemption is revocable if the entity or its associate fails to comply with the tax obligation.

14/04/2023

to HRH

11/04/2023

URA loses tax appeal on importation of used vehicles

The Court of Appeal has dismissed the Uganda Revenue Authority's (URA) appeal, in which it sought to uphold the suspension of the "Transaction Value Method" for customs valuation on imported used motor vehicles.

04/04/2023

What does this mean for commercial space travel?

Move by firm founded by Sir Richard Branson comes days after 85% cut of workforce announced

25/03/2023

Kakwenza Rukirabashaija withdraws from “unconstitutional” court proceedings

22/03/2023

Join Wanda Sammy on Spirit TV tonight 📌

17/03/2023

The brewer’s former supplier, Bia Tosha Distributors, wants the directors to be fined an equivalent of 20 percent of EABL’s sales.

09/03/2023

Do you agree?

08/03/2023

03/03/2023

Our Partner Matsiko Godwin Muhwezi moderated a panel on “The Role of Sustainable Communities in Energy Transitioning and Climate Justice”

on Supporting Inclusive Resource Development in East Africa

13/01/2023

The Constitutional Court of Uganda recently nullified provisions of the Computer Misuse Act No.2 of 2011 for being unconstitutional.

11/01/2023

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10/01/2023

The constitutional court has annulled S.25 of the Computer Misuse Act, 2011 and stopped its enforcement. Andrew Karamagi & Another vs AG. Constitutional Case No. 005 of 2016