Question
TWO PAGE MINIMUM ANSWER Tax administration function refers to assessment of tax payable and the other is the collection of tax due, the responsible body
TWO PAGE MINIMUM ANSWER
Tax administration function refers to assessment of tax payable and the other is the collection of tax due, the responsible body being URA. The commissioner is required to make an assessment of the chargeable income based on the tax payers return on income and any other information available within 5years from the date the return was furnished (S.95(I)).
As a graduate of taxation,(i)What is a return on income?(02 Marks)
(ii)Explain the types of return on income used by Tax authority;(05Marks)
(iii)Explain the circumstances where a return of income is not required as per the income tax Act CAP 240 laws of Uganda.(08 Marks)
(iv)As a business manager, elaborate on the five factors you must consider when planning for an investment in Uganda in terms of taxes.(10Marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started