Taxes on education & tourism will be delayed due to Covid-19.
All businesses involved in the following sectors; education, manufacturing, tourism, and agricultural services will have payment of taxes deferred until the end of this year due to negative economic impacts associated with Covid-19.
The government had proposed to only defer payments of taxes from April 1st to June 30th however Members of Parliament while passing the Tax Procedures Code Amendment Bill 2020, insisted that the business continue to suffer the effects of the pandemic.
The deferring of tax payments affects the businesses whose revenues are under shs 500m. According to the adopted recommendation the committee reads in part “This is to provide a stimulus and relief to taxpayers and the economy as a result of the Covid-19 pandemic.”