Tax Law

Capital Finance Corporation Ltd v Uganda Revenue Authority ((3 December 2001)) [2001] UGCA 3 (2 December 2001);

Flynote: 

Search Summary: 

The appellant a licensed credit institution and holder of a certificate of
incentives exempting it from corporation tax, withholding tax and tax on
dividends for six years, the respondent sought to tax the fees earned from
a consultancy contract and the appellant resisted on the ground of
exemption. The tax appeals tribunal found for the respondent and the High
Court found that the appellant was not entitled to exemption hence this
appeal.

Headnote and Holding: 

The court considered whether the appellant was exempted from taxation
by its certificate of incentives and the court observed that a certificate held
by the appellant is given to an investor for all its business including the
appellants consultancy business and therefore not subject to taxation.
The appeal was allowed.

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