Why Iocal Investors Miss Out On Incentives By Kasigwa Rose
The State Minister of Finance, Investment and Privatization, Evelyn Anite Explains to mps why domestic investors are not given tax incentives as compared to the foreigners.
Appearing before the parliament Finance committee Anite said that many domestic investors do not qualify for tax incentives since they don’t have investment license which is a requirement.
Foreign investors especially those in agro processing are given 10 years tax exemption and access to free land.
Anite explanation followed MPs concern that the foreign investors are favored at the expense of the domestic ones and yet they employ foreigners and take back all the profits from their investment and as such the country is not benefiting.