abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

22 Sep 2014

Author:
Joseph Olanyo, Observer (Uganda)

Uganda losing more money to tax havens

See all tags

Multinational companies could be robbing Uganda of billions of shillings through double taxation treaties (DTTs), a new survey has revealed. The study, DTTs in Uganda: Impact and Policy Implications, by Seatini Uganda and ActionAid, shows that many companies are extracting resources and selling their goods and services in Uganda, but not paying taxes. The DTTs often facilitate tax avoidance instead of protecting taxes that companies and individuals should pay in Uganda…It proposes that Uganda needs to urgently put in place a formal DTT policy framework that “will be used to guide the country in the development, negotiation and signing of new DTTs”…The United Nations estimates that countries across Africa lose $50bn to $60bn every year to illicit financial flows…[Refers to Bharti Airtel, Zain Telecom]