Fish Products Export

FISH EXPORTING COMPANY/BUSINESS

Fish exporting is when the government allows companies and small business owners to sell their goods and commodities to other countries.

The fish products exported include fresh fish (not chilled), chilled and frozen fish, dry/smoked fish, fish maws, fish meal, fish oil, fish skins and live (ornamental) fish. Fresh fillets are the main fish products exported from Uganda accounting for 76% of total quantity and 78% of total value.

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All players in the fishing sector in Uganda are required to be registered with;

  • Uganda Registration Services Bureau (URSB) for Company or business name
  • Uganda Revenue Authority (URA) for taxes

Please note:

Upon registration, one is required to comply with the requirements of statutory bodies like;

  • National Environment Management Authority (NEMA)
  • Department of Fisheries Control, Regulation and Quality Assurance under Ministry of Agriculture, Animal industry and Fisheries.
  • For fishermen and fish mongers, your license cannot be renewed unless you have a TIN

For individual

  • National ID or any other two of the following valid identification documents;  Passport, Driving permit, Voter’s card, Village ID, Employment ID, Refugee ID, recent Bank statement, Work permit, financial card, Visa, NSSF card etc.
  • Certificate of registration (incase you are in business)
  • Statement of particulars and partnership deeds (incase of a partnership)

For non-individual

  • Company Form 20
  • Certificate of incorporation

Click here for details on requirements for registration

Click here for your rights as a taxpayer.

Click here for your obligations as a taxpayer.

You need to keep records relating to all transactions in your business. It is important to always have records that are dated so that you can understand which reports relate to what period. These include;

  • Income statement records
  • Record of receipts/invoices.
  • Balance sheet
  • Payroll for your employees and appointment letters
  • Import schedules if applicable
  • Bank statements
  • Utility bills
  • Fish stock records
  • Asset registers
  • Debtors and Creditors
  • Suppliers agreements and payments

  • Keep proper records of all business transactions in the English language.
  • If you wish to keep records in a different language or currency, apply in writing with clear reasons to the commissioner for permission.
  • Where a record is not in English, you will be required to meet the cost of translation into English by a translator approved by the Commissioner.
  • Keep records such that it is easy to determine your tax liability;
  • Keep records for five years after the end of the tax period to which they relate for future reference.
  • In case a record is necessary for a proceeding that started before the end of the 5-year period, you will be required to keep the record until the end of the proceedings.
  • The records kept should contain sufficient transaction information and should be saved in a format that is capable of being recovered and converted to a standard understandable.

Corporation tax

It’s a tax imposed on non-individual players in the sector at a standard rate of 30%.

Individual Income tax

This is a tax imposed on individuals in the sector using the individual rates applicable.

Click here for more information on individual income tax rates.

Pay As You Earn (PAYE)

This tax applies to a sector player who has employees (administrative or causal laborers) that earn an aggregate in excess of 235,000 per month. This form of tax is withheld every month.

Click here for the PAYE rates

 

Description

Tax Incentive

Refrigerated Trucks

Exempted from all taxes under the fifth schedule of the East African Community

Customs Management Act, 2004.

Cold Rooms

A cold a room in which a low temperature

is maintained (as for refrigeration)

Import Duty is 0% in accordance with the EAC CET. Helps on post-harvest management and cold chain storage of agricultural products such as beef, chicken, fish etc

 

For more information, please visit the nearest URA office for assistance or call the toll-free line 0800117000/0800217000 or WhatsApp: 077214000

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