Uganda's Minister of Finance tabled several bills for the 2021-22 Budget for the first reading in parliament on 1 April 2021, including bills containing amendments to the Income Tax Act, The Value Added Tax, The Tax Procedure Code Act, and others. The main proposed changes 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 on whose behalf a transaction is con…