Parliament has rejected president Museveni’s directive on the Income Tax Act seeking to ring-fence oil production sharing from taxes.
Museveni on November 23 this year returned the bill to parliament for the third time, and directed the House to amend clause 89G, to scrap income tax on oil production, fearing that it would undermine oil production.
However, the Speaker Rebecca Kadaga upon further scrutiny realized that the bill had already been ascented to much earlier, making it law and the President’s directive does not apply.
She has announced the resolution while chairing parliament this morning.
