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|The effect of withholding tax on the level of revenue of an economy a case study of Uganda revenue authority katwe makindye division Kampala Uganda:
|Bajjole, Emmanuel Andele
Uganda revenue authority
|Kampala International University, College of Economics and Management.
|The study was conducted from Uganda Revenue Authority Katwe branch in Makindye division Kampala Uganda and it was about the e/f~ct of withholding tax on the level of revenue of an economy. Three specific research ,~ objectives were developed and these were; To identifj the dif/~rent types ofwithholding tax imposed ii’i Uganda,’ To inv~estigate on the effi~ct ofwithholding tax on the level of revenue of Uganda and To examine the challenges fitced by URA while administering withholding tax. The research design was both Quantitative and qualitative research designs .The target population/or this study comprised of a total 0/43 and a sample of 40 respondents was considered using the Sloven ‘s jörmula, the sources of data were Primary data and Secondary Data which were collected using the Questionnaires. Findings on the fIrst objective showed that withholding tax on Employment Income is one of the types of withholding taxes administered by URA basing on the response that those who Disagreed were 3(7.5%,) which was lesser than those who agreed 18(45%,). According to table 6 above, withholding tax on professional fees is administered is administered basing on the re~sponse that those who Disagreed were 3(7.5%,) which was lesser than those who agreed 23(575%,). According to table 6 above, withholding Tax on winnings of sports or pool Betting basing on the response which showed that those who Disagreed were 3(7.5%,) which was lesser than those who agreed given by 18(45,0%) According to table 8 above, Withholding Tax on goods’ and services was administered basing on the response which showed that those who Disagreed were 3(7.5%,.) which was lesser than those who agreed given by 16(40.0%). Findings on the second objective shoed that there was a significant effect of withholding lax on revenue For example the response on the statement that,’ Withholding tax may influence economic growth (revenue,) by af/i~cting human capital investments was (3.85,), Higher withholding taxes, lower net reiuri~, increase production costs and lower efficiency was (3.82,), Withholding tax on agricultural supplies and Withholding tax on payments of commission to mobile money dealers may a,fj~ct entrepreneurial activity was (3.88,), The larger the fax wedge is between being successful and unsuccessful the lower is the amount of’ risk taking (3. 78,) and finally the re.sponse on Taxation of’ dividends may reduce available new capital and harm firm start-ups jar those without access to international was (4.05). All the results showed a very high response as shown in the interpretation table 11 above. Therejöre it implies that withholding tax has got a very significant impact on the level ofrevenue ofthe economy Findings on the third objective showed that there was Lack ofIntegrated Business Operations as one of the major challenges faced by URA, Poor Invoicing Procedures was also among the biggest challenges and Administrative Burden Inhibits Proper Documentation n/Paper Trails, The study recommended that Uganda revenue authority should establish public lectures to people/citizens of’ Uganda to teach and train them about the propel’ financial management plvctices in order to mitigate the challenges flice or met while dealing with clieni.s’ upon administering withholding taxes, The study recommended that Uganda revenue authority should create public awareness about the importance ofpaying taxes and also inform them about the consequences and repercussions of’lax evasion and/or avoidance. The study further recommends that the authority should ensure that officers that are meant to handle the activity n/withholding taxes are well facilitated and they ,should in reasonable number to handle a specific number of clients. This helps the authority to keep track n/services ren~lered by officers and also mitigates negligence by the agents.
|a research report submitted to the college of economics and management in partial fulfillment of the award of bachelor’s degree in business administration (accounting and finance) of Kampala international university.
|Appears in Collections:
|Bachelor of Business Administration (BBA)
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