Dear esteemed Cooperators
RE: INVITATION TO THE NATIONAL CONSULTATIVE MEETING ON THE PROPOSED REMOVAL OF THE 10-YEAR EXEMPTION OF SACCOS FROM INCOME TAX
Reference is made to the communication from Parliament of Uganda published on Monday 16th April 2018 inviting the public to a hearing on the tax and revenue bills 2018 as proposed by the Ministry of Finance, Planning and Economic Development. The Income Tax Amendment Bill 2018 proposes to reverse the 10-year tax exemption awarded to SACCOs during the Income Tax Amendments 2017.
The Parliamentary Sectoral Committee on Finance, Planning and Economic Development therefore invites stakeholders and interested parties to present their views and as SACCOs, we shall be meeting the Committee on Wednesday 25th April 2018 to officially present our petition to the Committee.
In view of the aforementioned developments, Uganda Cooperative Savings and Credit Union (UCSCU), Uganda Cooperative Alliance and UCCFS hereby invite the SACCO fraternity to an urgent consultative meeting to be held on Tuesday 24th April 2018 at UCSCU Headoffices in Maganjo starting at 9:00 am to discuss, document and assent to the petition to be submitted to the aforementioned Committee and other decision makers.
Each concerned SACCO is advised without fail to send two representatives to attend the consultative meeting as we take note that each voice and signature to the petition counts in advocacy.To reinforce our petition, please come along with data for 2016 and 2017 on: members; share capital, savings, total equity, and loan portfolio (gross).
Looking forward to your participation in this very important meeting
Yours in service
CHIEF EXECUTIVE OFFICER/SECRETARY SACCOs ADVOCACY TECHNICAL COMMITTEE
CC. Registrar of Cooperatives
cc. Uganda Cooperative Alliance