Year-End Tax Planning Checklist Uganda 2026
1. Maximise Capital Allowances
Review all capital expenditure made during the year. Machinery for manufacturing qualifies for a 75% initial allowance — one of the most generous in East Africa. Bringing forward planned equipment purchases to the current year accelerates your tax deduction.
2. Review Business Expense Deductibility
Ensure all business expenses are documented with receipts and invoices. Accrue outstanding expenses before year end — expenses must be incurred, not just paid, to be deductible in the current year.
3. Utilise Prior Year Losses
Tax losses can be carried forward indefinitely in Uganda. Ensure they are properly documented in your URA records and claimed against current year profits.
4. PAYE and NSSF Reconciliation
Reconcile your payroll PAYE payments to URA against total salaries paid for the year. Identify and correct any discrepancies before year end. Ensure all NSSF contributions are up to date — outstanding contributions accrue 5% monthly interest.
5. VAT Input Tax Claims
Review all purchase invoices for the year. Ensure you have claimed input VAT on all qualifying purchases. Unclaimed input VAT can be recovered in subsequent periods within prescribed time limits.
💬 Need year-end tax planning support for your Uganda business?
Basket Advisory provides tax planning, annual return preparation, and URA compliance advisory. Want to know more? Talk to our consultant.