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URA Responds to Social Media Claims, Denies Plans to Deduct Tax from $70,000 and $22,000 Cash Awarded to World Athletic Champions Cheptegei and Kiplimo.

By Editor



The Champion Cheptegei will bring home $70,000 (UGX263 million) and his team mate Kiprimo who was number three will also bring $22,000 (UGX83 million).


However, as the discussion was going on whether their money will be chopped by the tax man Uganda Revenue Authority upon their return from the US, it’s been revealed their cash money is tax exempt and nothing will be chopped.


According to Uganda Revenue Authority, it has revealed that section 21 of the ITA exempts from tax an award received by a sportsperson as a reward for winning or participating in a sports competition. URA further says that the exemption is purposed to enable Uganda produce more sports stars.


This means Cheptegei will be 263 million richer and also his counter part Kiprimo will also be 83 million richer and will smile to the bank without any hustle.


#DailyNewsUG TAXATION UPDATES 🇺🇬🔥

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