In the ideal world of a tax policy designer, everyone and almost everything should taxed. It is for this reason that there are so many taxes and tax points. From income taxes which include corporation tax, pay as you earn and withholding tax to import duty, excise duty, VAT, Local service tax, property tax and many others the idea is to leave nothing out. Tax is rarely enough and is far from enough in the less affluent countries. The pressure to collect more tax is so pervasive. There is a constant drive to amend the tax laws, to collect more tax, to expand the tax base.
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Yogi Steels Limited is a Ugandan manufacturer of steel products, and was granted approval under the duty remission scheme to import 15,000 MT of wire rods at 0% duty for use in its export-oriented production for a twelve-month period of 2023/2024. In reliance on this approval, the company paurchased and shipped a consignment of 527.9 Metric Tonnes of Wire Rods.