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Daily Monitor | URA takes over WBS TV management over Shs7billion tax liabilities

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Posted April 11, 2016 by Ugandan Diaspora News Team in Business ~ 1,761 views

     

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Wavah Broadcasting Service (WBS) television has been put on receivership after the privately-owned media company failed to clear tax liability amounting to Shs7.2billion. According to Uganda Revenue Authority (URA), the tax arrears have been accumulated over a 10-year period. A company going into receivership is usually the result of unpaid bills (in this case failure to pay taxes as required by law) which have been delinquent for far too long.

URA manager debt collection, Mr Abdul-Salaam Waiswa confirmed to the Daily Monitor that WBS has been put under receivership after failing to clear tax arrears amounting Shs7.2billion. Speaking in an interview Monday, he said: “We have not closed WBS but we have put it under receivership. This means that we have taken over the management of the station. And we have appointed Mr Kabito Karamagi, a lawyer, who will manage the company until such a time that the tax liability is cleared and the station is back on its footing.”

The Shs7.2billion, according to Mr Waiswa includes interest accumulated over a period of ten years. He said there has been attempt to clear the arrears over the years but the effort was not matching the rate at which the tax liability was accruing. And for that, following several engagements between the tax collectors and the proprietor of the television station, a decision to put it (WBS under) receivership rather than shutting it down was reached.

Source — The Daily Monitor


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Ugandan Diaspora News Team

Ugandan Diaspora News Online is an independent, non political news portal primarily aimed at serving Ugandans who work and reside outside Uganda. Our aim is to be a one stop shop for everything Ugandan and the celebration of our Ugandan heritage.

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