According to recent reports, the Ugandan president signed into law (assented) a series of amendment acts in May 2021 that provide for the implementation of the measure of 2021-22 Budget, including amendments to the Income Tax Act, The Value Added Tax, The Tax Procedure Code Act, and others. The main measures include the following:
- The introduction of a new definition of "Beneficial Owner", which means:
- a natural person who has final ownership or control of another person or a natural person …