Henry Musasizi, the Minister of FinanceThe Ministry of Finance is seeking Parliamentary approval to waive off taxes for three companies, a request if approved by Parliament would see Uganda forego taxes to a tune of UGX16.8 billion.The details are contained in the Order Paper issued by Parliament ahead of the 14th July 2026 plenary sitting, where the Minister of Finance, Henry Musasizi is expected to table the three requests before Parliament.In the first request, the Ministry of Finance is requesting to waive off outstanding Pay As You Earn (PAYE) arrears for Ankole Western University amounting to UGX1,026,326,706, while in the second request, Government has proposed to waive off outstanding tax arrears for Uganda Printing & Publishing Corporation (UPPC) amounting to UGX13,954,269,455.Details before Parliament also indicate that the Ministry of Finance has proposed to waive off outstanding tax arrears for K-roma amounting to UGX1,864,329,231, thus bringing the proposed amount being proposed to waive off to a tune of UGX16,844,925,392.The development comes at the time when the FY 2023/24, Tax Expenditure (TE) estimated that UGX 3.609Trn, equivalent to 1.78% of GDP and 13% of total tax collections (UGX 27.301Trn) for the same period was foregone through various tax exemptions.The report further indicated that over the past five FYs, the value of revenue forgone has increased in nominal terms, rising from UGX2.467Trn in FY 2019/20 to UGX 3.609Trn in FY 2023/24, indicating a 46% growth. The Ministry of Finance however warned that due to data limitations, the estimates presented herein may understate the actual value of revenue forgone from TEs, because adequate data is not available to calculate the revenue impact for some provisions identified as TEs in the relevant tax laws.The post Govt Seeks UGX16.8 Billion Tax Waiver for Three Companies appeared first on Business Focus.