Demo Consult

Demo Consult

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We have Bamboo seedlings and Rose Mary seedlings kindly contact us on 0778489053 or 0704516565. We also offer professional and technical plantation establishment and management services.
We are here to serve you better.
Thank you
Hi any job for me??? Have a diploma in Business Studies ( Accounting) UCC Soroti
*******REMINDER********

31 Dec 2018 is the DEADLINE to file tax return for the year ended 30th June 2018 and failure to file attracts a late filing penalty or administrative assessment

WHO is required to File
1. Companies
2. Partnership
3. Sole proprietorship
4. Directors of a company
5. Partners in a partnership
6. Individuals with business / rental income
That have registered for taxes, or have a TIN

Please not even if the business, companies, partnership, or individual did not make any sales or made a loss, ur still required to file Nil or loss

For any assistance, whatsap or call us on
0783060700/0759388705

❎All these are the provisions in the Income Tax Act of Uganda

We specialize in Tax Advisory, Accountancy & bookkeeping, Audit & Assurance, Business Management Advisory & Capacity building.

Operating as usual

09/10/2021

From the CEO Demo Consult , happy Independence day to everyone

From the CEO Demo Consult , happy Independence day to everyone

09/10/2021

To you all

To you all

16/09/2021

CAN THE TAXMAN HARMONIOUSLY COEXIST WITH A BUSINESSPERSON ?

By Dedan Mutatinensi

"In this world, nothing is certain but death and taxes" is a an old adage that means one cannot avoid the inevitable, that certain things in life are common to all people and cannot be avoided. Tax is one of those. Taxation is the price, we citizens pay for our government to keep running & to provide us with basic social services.

But if people must pay tax and they know they must, why are business people always in running battles with the taxman, in this case, Uganda Revenue Authority. Why cant they live co-harmoniously?

To increase tax revenue, URA is always in a constant upgrade of its policies & systems, both legislatively and technologically. EFRIS & DTS are some of those examples - good initiatives, no doubt but does the business-person appreciate or understand them? Can the businessperson be blamed, should the answer be no?

Some of these initiatives, even when they are meant to improve revenue tax collection, they inadvertently bring positive benefits to private enterprises, in the form of helping them put their books of accounts in order. With books of accounts in order, the business person is able to make informed decisions about his or her enterprise; can properly do their tax filings, and incase URA doubts, can effectively provide evidence to support his/her filing; but most importantly, proper book keeping helps to advance the element of the principle of separation i.e the owner marking a clear difference between him/herself and the business.

URA would be better off if it introduced some of these interventions after a thorough consultatitve process with its "clients" and a well orchestrated communication campaign so that its "target tax payers" be informed and prepare well in advance. URA must approach this issue with the knowledge that mindset change is a gradual process and so instant imposition of tax can be sternly opposed. This is what we have witnessed with the recent taxation on textiles, its opposition and ultimately, its reversal. As mentioned earlier, that could have been avoided with a better consultative process with the stakeholders.

That way, the taxman and the business person would live co-harmoniously.

The writer is a Tax Consultant at Demo Consult and can be reached using [email protected].

CAN THE TAXMAN HARMONIOUSLY COEXIST WITH A BUSINESSPERSON ?

By Dedan Mutatinensi

"In this world, nothing is certain but death and taxes" is a an old adage that means one cannot avoid the inevitable, that certain things in life are common to all people and cannot be avoided. Tax is one of those. Taxation is the price, we citizens pay for our government to keep running & to provide us with basic social services.

But if people must pay tax and they know they must, why are business people always in running battles with the taxman, in this case, Uganda Revenue Authority. Why cant they live co-harmoniously?

To increase tax revenue, URA is always in a constant upgrade of its policies & systems, both legislatively and technologically. EFRIS & DTS are some of those examples - good initiatives, no doubt but does the business-person appreciate or understand them? Can the businessperson be blamed, should the answer be no?

Some of these initiatives, even when they are meant to improve revenue tax collection, they inadvertently bring positive benefits to private enterprises, in the form of helping them put their books of accounts in order. With books of accounts in order, the business person is able to make informed decisions about his or her enterprise; can properly do their tax filings, and incase URA doubts, can effectively provide evidence to support his/her filing; but most importantly, proper book keeping helps to advance the element of the principle of separation i.e the owner marking a clear difference between him/herself and the business.

URA would be better off if it introduced some of these interventions after a thorough consultatitve process with its "clients" and a well orchestrated communication campaign so that its "target tax payers" be informed and prepare well in advance. URA must approach this issue with the knowledge that mindset change is a gradual process and so instant imposition of tax can be sternly opposed. This is what we have witnessed with the recent taxation on textiles, its opposition and ultimately, its reversal. As mentioned earlier, that could have been avoided with a better consultative process with the stakeholders.

That way, the taxman and the business person would live co-harmoniously.

The writer is a Tax Consultant at Demo Consult and can be reached using [email protected].

07/09/2021

Know your business costs.

In a layman's language, business costs are anything that take money out of the business. Its in the interest of each and every business to minimize business costs in order to maximize investor's gains.

Whats the biggest cost in your business?
Taxes are proving to be the biggest cost to each and every business in Uganda today as shown below;

Income tax for companies is charged at 30% after every 12 months. For example, if a business makes a profit of 10m, the government through URA is entitled to 30%*10m=3m. The business remains with 7m. If this 7m is to be paid the the owner of the business as a dividend, the government again through URA is entitled to get 15% as WHT. That is, 7m*15%=1.05m.

This means that out of 10m, the government is taking 4.05m as taxes whereas the investor is taking only 5.95m.

In effect, this means that in accordance with Income Tax Act, the government is entitled to over 40% of your business profits.
My biggest question to all business owners small and big is, do we put in our efforts to plan how to manage this biggest cost to us?

Tax planning has become part and parcel of business systems and specifically part of a sound financial management system. For you to plan well for all your tax affairs with a purpose to minimize outflows through taxes, a tax expert/professional is necessary. Because, taxation is guided by the law, its not that everyone can interpret the law and advise appropriately. Let a tax expert be part of your consultants/business advisors in order to ensure business sustainability through minimizing tax costs. Lets all strive to pay our fair taxes. #taxes #smallbusiness #financialplanning #wealthmanagement #taxadvisory

Know your business costs.

In a layman's language, business costs are anything that take money out of the business. Its in the interest of each and every business to minimize business costs in order to maximize investor's gains.

Whats the biggest cost in your business?
Taxes are proving to be the biggest cost to each and every business in Uganda today as shown below;

Income tax for companies is charged at 30% after every 12 months. For example, if a business makes a profit of 10m, the government through URA is entitled to 30%*10m=3m. The business remains with 7m. If this 7m is to be paid the the owner of the business as a dividend, the government again through URA is entitled to get 15% as WHT. That is, 7m*15%=1.05m.

This means that out of 10m, the government is taking 4.05m as taxes whereas the investor is taking only 5.95m.

In effect, this means that in accordance with Income Tax Act, the government is entitled to over 40% of your business profits.
My biggest question to all business owners small and big is, do we put in our efforts to plan how to manage this biggest cost to us?

Tax planning has become part and parcel of business systems and specifically part of a sound financial management system. For you to plan well for all your tax affairs with a purpose to minimize outflows through taxes, a tax expert/professional is necessary. Because, taxation is guided by the law, its not that everyone can interpret the law and advise appropriately. Let a tax expert be part of your consultants/business advisors in order to ensure business sustainability through minimizing tax costs. Lets all strive to pay our fair taxes. #taxes #smallbusiness #financialplanning #wealthmanagement #taxadvisory

24/08/2021

For all the following services, Demo Consult is your one stop centre

For all the following services, Demo Consult is your one stop centre

14/08/2021

Apply now, deadline is on Wednesday 18th August 2021

Apply now, deadline is on Wednesday 18th August 2021

09/08/2021

You maybe the suitable candidate we are searching for, apply now

You maybe the suitable candidate we are searching for, apply now

06/08/2021

For any business entity to prosper, measure performance, invest well and manage its financial resources well, proper and appropriate books of accounts/records have to be maintained.

With no proper books maintained, compliance risk is very high especially compliance with tax requirements. But also the risk of fraud is high. At Demo Consult, we help our clients build strong bookkeeping systems that will help management report timely but also safeguard the assets of the business. We pride in associating with businesses that plan and mind about compliance with the laws of Uganda. #smallbusiness #bookkeeping #financial #tax #financialplanning #accounting #compliance #risk

For any business entity to prosper, measure performance, invest well and manage its financial resources well, proper and appropriate books of accounts/records have to be maintained.

With no proper books maintained, compliance risk is very high especially compliance with tax requirements. But also the risk of fraud is high. At Demo Consult, we help our clients build strong bookkeeping systems that will help management report timely but also safeguard the assets of the business. We pride in associating with businesses that plan and mind about compliance with the laws of Uganda. #smallbusiness #bookkeeping #financial #tax #financialplanning #accounting #compliance #risk

03/07/2021

If you are dynamic, innovative and proactive, you are the one we are looking for.

If you are dynamic, innovative and proactive, you are the one we are looking for.

02/07/2021

Its better you comply in time than facing the huge penalties

Its better you comply in time than facing the huge penalties

01/07/2021

Try your chance now and join our team

Try your chance now and join our team

26/06/2021

The deadline is on Wednesday 30th June 2021.

The deadline is on Wednesday 30th June 2021.

30/03/2021

All VAT taxpayers, you can only claim your input if you have an e-invoice/receipt. With this, you need to emphasise on e-documents while buying anything from other VAT taxpayers.

VAT claims/refunds have been made easy since there won't be time time in checking and verifying supporting documents to these claims

All VAT taxpayers, you can only claim your input if you have an e-invoice/receipt. With this, you need to emphasise on e-documents while buying anything from other VAT taxpayers.

VAT claims/refunds have been made easy since there won't be time time in checking and verifying supporting documents to these claims

24/12/2020

To our current and prospective clients,

02/12/2020

It's Tax time, prepare and file both your final and provisional income tax returns for 2019/20 & 2020/21 respectively

[09/02/20]   EFRIS
Electronic Fiscal Receipting and Invoicing Solution is a new system in the Ugandan tax laws (Tax procedure code TPC (Am) Act 2018. Under this system, once a transaction is initiated by the seller on an electronic device/URA/mobile phone web portal, the transaction is processed through the centralised receipting and invoicing system authenticated by URA and a receipt or invoice is issued to the buyer. This can be sent directly on to the buyer in a soft form or a printed hard copy.

Its implementation started from 1st July 2020. 3 months period was given for taxpayer sensitisation about this new system. The first phase is for all VAT registered taxpayers and all the other taxpayers will be brought on to the same gradually.
Effective 1st Oct 2020, to claim for VAT input or administrative expenses, the above category must support their claims with e-documents.

The implication of this is that URA will be monitoring business performance of such businesses in real time. This comes with both advantages and disadvantages to the businessman. However, note that this is a government policy, it cannot be fought successfully but rather it can be managed through proper prior tax planning. With such developments taking place in our business playfield, tax planning must be part and parcel of our business processes on a daily.

Let’s meet in October as we talk e-things, but you can also contact us for more discussion on the same matter.

[07/29/20]   C19 has shown both individuals & companies that its vital to have reasonable cash reserves

democonsults.com 03/07/2020

Demo Consult

With our help behind you, you’ll never be in the dark on your business ventures. We’re experts at proactively managing your tax issues and can give you in-depth analysis about how your upcoming opportunities are likely to affect your tax position. www.democonsults.com

democonsults.com We are experienced business and management consultants providing effective on-time professional support to business owners, Managers, organizations and institutions

09/06/2020

Filing your tax returns on time is a good practice and saves you from deadline pressures. Act now now

[06/02/20]   Failure to notify change of ownership of a motor vehicle within 14 days attracts a penalty of 6m or 6 months imprisonment: New Law

28/05/2020

Time is now to act or ask anything you would want to know about withholding tax & withholding tax/VAT exemptions. Unlike before, effective 1st July 2020, the exemption status will be valid for 12 months

[05/10/20]   Digitalisation of workplaces will continue apace. Either we are part of that journey or we run the risk of being left behind’

[05/09/20]   The ways in which a business creates value are influenced by its business model, its strategy, and the particular goals of the organisation

[05/07/20]   Across almost every aspect of business, professional accountants help organisations navigate challenging and competitive operating environments, thereby creating new value streams.

13/04/2020

Amidst this COVID-19, dont forget about your businesses. Its time to plan ahead and re-organise our systems and processes. Soon we shall over come this and embark on our daily routine. #Stayhomestaysafe

03/04/2020

COVID-19 is a shock to the business community and to everyone. Lessons must be learnt so that we emerge stronger once this storm is gone. Lets re-strategise and organise ourselves better to easily manage such in the future. If it means having a training to make yourself or staff better, pliz do.

23/03/2020

Amidst all these challenges, as a business you need to track all your transactions by keeping proper records.

20/03/2020

``At your service

17/03/2020

At your service

[03/09/20]   Strategy is a living process and not just an organisational routine

29/02/2020

We give tailored solutions to your business and you focus on your core areas.

27/02/2020

We promise you timely and professional services in the year 2020 and beyond

27/02/2020

Demo Consult

27/02/2020

Our dear clients, we thank you for your continued support for all the years. In a bid to serve you better in 2020 and beyond, we have re-branded to DEMO CONSULT as seen in the logo 👇👇👇👇👇. We are what we are because of you and you have made this journey enjoyable. We promise timely and professional services to you our KINGs.

[02/24/20]   “The conventional definition of management is getting work done through people, but real management is developing people through work.” – Agha Hasan Abedi

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Amidst this COVID-19, dont forget about your businesses. Its time to plan ahead and re-organise our systems and processe...

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Express Logistics Complex, Opp Face Technologies Kyambogo, Gloucester Avenue
Kampala
KAMPALA, UGANDA

Opening Hours

Monday 08:00 - 18:00
Tuesday 08:00 - 18:00
Wednesday 08:00 - 18:00
Thursday 08:00 - 18:00
Friday 08:00 - 18:00
Saturday 09:00 - 15:00
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