Digital Taxation around the World | Tax Foundation Skip to content taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. policies, a significant number of countries adopted unilateral tax measures targeted at digital businesses, … Read more
– Uganda has a fiscal deficit of 5.6 percent in 2023
– World Bank suspended funding to Uganda over anti-homosexuality law
– Traders in Kampala protested against high taxes and enforcement tactics
– Uganda has a narrow tax base, with tax collections totaling less than 14 percent of GDP
– Only 1 million Ugandans pay tax out of a population of almost 50 million
– Top 1,000 taxpayers contribute more than three-quarters of all tax revenue collections
– Uganda’s tax regime is less effective than many of its Sub-Saharan counterparts
– Tax regime is perceived as unfair by ordinary citizens
– Tax laws have elements of being progressive, particularly in personal income taxation
– Uganda faces challenges in raising sufficient funds for public services and economic development
– Reforms are needed in personal income tax rates, VAT threshold, presumptive tax thresholds, and business taxation
– Greater transparency in public spending and service delivery can improve taxpayer morale and compliance
Fact: The pharmaceutical industry pays the lowest effective tax rate in 2022 at 11.6%, with some companies like Pfizer and Abbvie paying even lower rates.
Negotiations for a global treaty to address plastic pollution concluded without agreement on sustainable plastic production limits.
The government has simplified the criteria for Greek Cypriots and Maronites wishing to resettle in villages in the north. Couples who cannot both live in the north for “unsurmountable reasons” are now allowed to resettle in those villages.
Borussia Dortmund midfielder Marcel Sabitzer and forward Donyell Malen are likely to be fit for the Champions League semi-final first leg against Paris St Germain.
Fact: The Cyprus International Theatre Festival has begun and will present performances by local creators and international theatre names until mid-June.
The judge overseeing Donald Trump’s criminal hush money trial fined the former U.S. president ,000 for contempt of court and warned that he could face jail time if he continued to violate a gag order.
– President Nikos Christodoulides and British Prime Minister Rishi Sunak discussed migration on Tuesday.
– 80% of asylum seekers arrived in Ireland by crossing its land border with Northern Ireland.
– The UK is not interested in accepting the return of asylum seekers who enter the EU from their country.
– Ireland’s High Court ruled that the UK should no longer be designated as a “safe country” for returning asylum seekers.
– The Cypriot government believes that Syria is now a safe country to which migrants can be returned.
Disy MP Averof Neophytou proposed a legislative amendment to provide partial restitution to those who lost their bank savings in the 2013 ‘haircut’. The Solidarity Fund, which has cash reserves of about €200 million, could immediately pay out €8,000 for every €100,000 lost in the haircut. The Solidarity Fund was initially allocated €55 million in start-up funds and aims to provide relief to legacy Laiki depositors and bank bondholders affected by the 2013 bail-in.