{"id":5602,"date":"2022-05-09T09:54:10","date_gmt":"2022-05-09T09:54:10","guid":{"rendered":"https:\/\/ugandaupdatenews.com\/?p=5602"},"modified":"2022-05-09T09:54:20","modified_gmt":"2022-05-09T09:54:20","slug":"standard-chartered-stanbic-banks-and-nile-breweries-fined-for-contempt-of-the-tax-appeals-tribunal","status":"publish","type":"post","link":"https:\/\/prowebinhost.com\/anzu\/standard-chartered-stanbic-banks-and-nile-breweries-fined-for-contempt-of-the-tax-appeals-tribunal\/","title":{"rendered":"STANDARD CHARTERED , STANBIC BANKS AND NILE BREWERIES FINED FOR CONTEMPT OF THE TAX APPEALS TRIBUNAL"},"content":{"rendered":"\n

The Tax Appeals Tribunal (TAT) has slapped a fine of UGX 20 Million on Nile Breweries Limited (NBL) and UGX 30 Million on Standard Chartered and Stanbic Bank for contempt of court orders .<\/p>\n\n\n\n

This follows NBL\u2019s earlier application to the TAT objecting to URA\u2019s additional assessment of Local Excise Duty of Ugx 8,093,539,724 and Value Added Tax of Ugx 6,098,292,276. . The Tax Appeals Tribunal had on 7th March 2022, issued a temporary injunction order restraining URA from collecting the said taxes from NBL.\u00a0<\/p>\n\n\n\n

As a condition for the injunction, TAT directed NBL to pay 30% of the tax in dispute translating to Ugx 4,257,549,600, which the company refused to pay.<\/p>\n\n\n\n

Despite several reminders by URA, NBL did not comply with TAT\u2019s directive. This prompted the authority to issue third party agency notices on NBL\u2019s bankers, Standard Chartered Bank (SCB) and Stanbic Bank (SB) requiring them to remit 30% of the tax on behalf of their client. However, this did not yield any fruit as the banks ignored the agency notices.<\/p>\n\n\n\n

URA proceeded to file for contempt at TAT. In response, NBL filed an application seeking interpretation of the law relating to the 30% tax deposit.<\/p>\n\n\n\n

This interpretation application was however dismissed with costs, on objection by URA.<\/p>\n\n\n\n

In their defense, NBL and the banks denied that they were in contempt of the TAT Order. The tribunal however disagreed and after evaluating the evidence presented, ruled that NBL and the banks were in contempt of the TAT Orders. Consequently, TAT fined NBL Ugx 20 Million while the banks were fined Ugx 30 Million each. <\/p>\n\n\n\n

The banks are also to jointly pay Ugx 28,710,756 in damages to URA. NBL must still pay 30% of the assessed tax.<\/p>\n\n\n\n

\"\"
George Okello, URA\u2019s Assistant Commissioner for Litigation<\/strong><\/figcaption><\/figure>\n\n\n\n

URA was represented by George Okello, Assistant Commissioner Litigation and Counsel Tonny Kalungi.<\/p>\n\n\n\n

Okello noted that the ruling is very important for it reasserts the principle of respect for court orders and the Rule of law. He reckoned that quite often, banks ignore URA\u2019s demands for tax remittance on behalf of their customers who have tax debts with URA. Okello added that this ruling will enable the banks to be more compliant.\u00a0Standard Chartered Bank and Stanbic bank were represented by Sebalu and Lule Advocates and AF Mpanga Advocates respectively while NBL was represented by Meritas Advocates.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

The Tax Appeals Tribunal (TAT) has slapped a fine of UGX 20 Million on Nile Breweries Limited (NBL) and UGX<\/p>\n","protected":false},"author":1,"featured_media":5603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[67,65],"tags":[],"class_list":["post-5602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-national-news","category-national-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/05\/ura.png","jetpack-related-posts":[{"id":5904,"url":"https:\/\/prowebinhost.com\/anzu\/ura-wins-another-big-case-as-tax-appeals-tribunal-orders-dhl-to-pay-1-48bn-in-vat\/","url_meta":{"origin":5602,"position":0},"title":"URA WINS ANOTHER BIG CASE AS TAX APPEALS TRIBUNAL ORDERS DHL TO PAY 1.48BN IN VAT","author":"UgandaUpdate","date":"June 12, 2022","format":false,"excerpt":"Big name -DHL Supply Chain International Ltd, a Ugandan subsidiary of the the Deutsche Post (DHL group in Germany) has been ordered to pay UGX 1,484,422,000 of Value Added Tax (VAT) to URA . 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Sources at URA have told this publication that\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/prowebinhost.com\/anzu\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/05\/mtn-boss.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/05\/mtn-boss.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/05\/mtn-boss.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/05\/mtn-boss.jpg 2x"},"classes":[]},{"id":6210,"url":"https:\/\/prowebinhost.com\/anzu\/ura-registers-21-5-trillion-revenue-collection-the-highest-growth-in-the-financial-year-2021-22\/","url_meta":{"origin":5602,"position":2},"title":"URA REGISTERS 21.5 TRILLION REVENUE COLLECTION -THE HIGHEST GROWTH IN THE FINANCIAL YEAR 2021\/22","author":"UgandaUpdate","date":"July 11, 2022","format":false,"excerpt":"Uganda Revenue Authority (URA) has announced Shs 21.5 trillion collected in revenue for the concluded Financial Year, 2021\/22 despite the devastating effects of Covid-19 and the war in Ukraine . 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