Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Double Taxation Relief Manual

HM Revenue & Customs
, see all updates

Uganda: Underlying Tax

 (1) Documents needed to support the underlying tax claim

The accounts showing the profits out of which the dividend was paid and the Notice of Assessment to Income Tax showing the final liability for the period will be required by the Underlying Tax Group.

Profits for the year ended 31 December 2008 are assessed in the tax year ended 31 December 2008.

 (2) Banks’ statutory reserve

Relevant profits are reduced by transfers to the statutory reserve under the Ugandan Banking Act 1969. Banks and credit institutions are required to transfer not less than 20% of their net profits, before the declaration of a dividend, until the reserve is equal to the paid up capital.