Annual Returns Filing Service with URSB and URA Tax Returns in Uganda

Your company is required to file the Annual Returns at least once every calendar year. It is by law as spelled out under section 134(1) of the Companies Act.

Call Houston Executive Consulting today to aid you with filing these two types of Annual Return which can be submitted online through the URSB & URA Portals. Your annual return – as the name suggests – must be filed with URSB on a yearly basis to establish the company standing.

Lead Consultant & Tax Agent: Mr. Robert Wanambwa KAMOTISON

He holds the degree of Master of Arts in Economic Policy Management from Makerere University. He has previously worked with Uganda Revenue Authority (URA) handling tax payer assessment and compliance management.

Robert is our tax consultant who researches tax issues, recommends strategies to minimize and address tax liability, prepares and files tax returns, and meets with the URA to represent clients during audits. He advises our clients on tax-planning strategies and is informed on tax law changes.

The Cost (Our Professional Fees)

At Houston Executive Consulting, we offer the least possible price that meets all requirements as indicated below:

UGX: 700,000 for filling Annual Return with URA

Starting as low as UGX: 1 million for preparation of financial statements (involves the process of aggregating accounting information into a standardized set of financials).

UGX: 500,000 for Filling Annual Return with URSB

Annual Return with URA

The one for URA is an annual return submitted by a taxpayer reporting their income tax on the profit earned or loss made during that year of income. A return every 12 months is the minimum you must adhere except for URA where you need to file a provisional return submitted by the stated due date.

With URA, return filing is a process where a registered taxpayer periodically declares his or her income to URA indicating how they have transacted during a given period and this will reveal the tax payable for that period. Filing a return is an obligation expected of all registered taxpayers.

Our tax advisory issues are handled by an Agent licensed by the Tax Agents Registration Committee (TARC) to handle tax issues on behalf of the tax payer.

Annual Return with URSB

The Company Act under Section 134 mandates every company within forty-two (42) days after the annual general meeting to file the annual returns. This is done online on the URSB website [https://onlinefiling.ursb.go.ug/brs/pro/Um/register]

If a company fails to comply with this requirement, the company and every officer of the company who is in default shall be liable to a default fine as may be deemed fit by the registrar.

Save time and also save your company from being struck off the company register. You will also save your business from liability of default fine as may be deemed fit by the registrar.

Our team will make a review of a company’s general information, which includes the details about the officers of the company (e.g., directors and company secretary), registered office address, share capital and full details of shareholders.

Filing Deadline and Penalties

We at Houston Executive Consulting will aid you in the paperwork concerning filing deadline & penalties with our staff of employing expert consultants and tax agents in Uganda.

We can will take care of every situation, such as when the URSB send email alerts and reminders to registered office address when it comes due. This due date is usually a year after either:

• the date when a company was incorporated
• the date when last annual return or confirmation statement was filed

Other Services we offer Include;

• HR Outsourcing and Payroll Management
• Company Registration (Name Search, Name Reservation, Resolutions, Business Name Registration, Document Certification, etc.)

Required Information During the Process of Filing Returns

• Location and address of the registered office of the company
• Particulars of the directors and company Secretary
• Register of holders of debentures of the company if any
• The company’s registered postal address
• Details about company Indebtedness (loans with any financial service provider)
• Memorandum and Articles of Association of the company
• Identification documents like passport or national ID for the members/subscribers, directors and the company secretary
• Power of Attorney or Resolution authorizing the agent who files the annual returns for the company

Why do you need to file annal returns?

Filing of returns is one of the corporate compliance measures. You have sure your organization and employees follow all laws, regulations, standards, and ethical practices that apply to your business and industry.

Compliance applies to both internal policies and procedures, as well as the government laws. Enforcing compliance helps your company prevent and detect violations of rules, which protects your organization from fines and lawsuits.

Disclaimer

No information contained on this webpage should be construed as legal advice from Houston Executive Consulting or the individual authors, nor is it intended to be a substitute for legal counsel on any subject matter.

For additional information in relation to this marketing collateral, please contact the following:

Robert Mwesige: robert@heconsulting.us