t ill R1 I T H U C o n CANDA
The THE REPl'BUC OF IGAXDA
R e g is te r e d at th e Published
General Post Office for
transm ission within by
E a st A f r ic a as a
Vol. CV No. 30 1st June, 2012 Price: Shs. 5,000
CONTENTS P age 1. These documentation requirements shall apply to
The Income Tax (Transfer Pricing) controlled transactions for Multi National Enterprises
Regulations—Notice ... ... ... 327-329 (MNEs), or
The Trademarks Act—Registration of Applications 329-334 2. Controlled Transactions in aggregate equal to or
Advertisements...................................... ••• 334-339 exceeding 25,000(Twenty five thousand) currency
points in a year of income.
CORRIGENDUM Note: For purpose of this Practice Notes, MNEs are defined
as enterprises that manage production, deliver services or
This is to notify that the Trademark No. 2011/43836 generate sales and profits in more than one country and
‘KINGSTON’ in the names of Kingston Impex Pvt. Ltd. includes hybrid arrangements and relationships through
whose legal address is 63-A, Raj Guru Nagar, Ludhiana-141 shared shareholders.
012, PJ NJAB, India advertised in the Uganda Gazette
Volume CIV No. 73 under General Notice No. 683 of 2011 This list is neither intended to be exhaustive nor meant to apply
to all types of businesses. The taxpayer should maintain
dated 9th day of December, 2011 had its goods erroneously
documents of sufficient quality so as to accurately and
advertised as: Machines and machine tools; motors and completely describe the transfer pricing analysis conducted and
engines (except for land vehicles); agricultural implements efforts to comply with the arm’s length principle.
other than hand-operated; incubators for eggs.
A. COMPANY DETAILS:
The correct specification of goods should have read/s:
Vehicles; apparatus for locomotion by land, air or water. i) . Ownership and organizational structure showing
linkages between the associated parties.
Dated this Tuesday, May 08. 2012. This shall include:
a) A description of the taxpayers worldwide
MERCY KYOMUGASHO K. NDYAHIKAYO. organizational structure (including an organizational
Registrar o f Trademarks. chart) covering all associated parties,
b) The identification of participants in related party
General Notice No. 386 of 2012. dealings , and
c) Brief history and any significant changes in
relationships between the parties including dates
of incorporation, shareholding at the time of the
ii) . Operational aspects of business including details of
functions performed, risks assumed and assets
U g a n d a R evenue A u th o rity employed relevant to the transactions.
PRACTICE NOTES iii) . Assumptions and information regarding factors that
influenced the setting of prices or the establishment of
TRANSFER PRICING DOCUMENTATION TO BE policies for the taxpayer and the related party group as
KEPT BY TAXPAYERS a whole.
B. TRANSACTION DETAILS:
The Honourable Minister of Finance, Planning and
Economic Development by virtue of the powers conferred i). A description of controlled transactions that identifies
upon her under Section 164 of the Income Tax Act. Cap. the transactions which have been entered into, the
340. Laws of Uganda, issued Statutory Instrument No. 30 of names of the participants, the scope, tvpe. timing.
2011 titled. The Income Tax (T ransfer P ricing) frequency of and value of transactions e.g. purchase of
Regulations. 2011, effective 1— .July 2011. raw material or fixed assets, sale of finished goods.
boiTQwing of funds, the currency of the transactions
DOCUMENTATION should also be stated, identification of internal data
In accordance with Sub Regulation 3 of Regulation 8 of the relating to the controlled transactions, terms and
Regulations, the Commissioner General hereby notifies the conditions of the transactions including copies of
general taxpaying public that the following documentation relevant intercompany agreements relating to the
shall be required for transfer pricing purposes: transactions such as: