Sole trader (individual business name)Uganda
What it takes to form, own and run a sole trader in Uganda, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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every individual having a place of business in Uganda and carrying on business under a business name
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The income tax rates applicable to resident individuals are
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Yes
What it takes to form
Not in our records A notary, A resident director, Paying up the capital: none of these is in our records for the Sole trader (individual business name).
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 1 · at most 1 · one person may form it alone
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every individual having a place of business in Uganda and carrying on business under a business name
- A local company secretary
- Does not apply
- A local registered agent
- Not required
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Every firm or person required under this Act to be registered shall furnish by sending by post or delivering to the Registrar General at the register office a statement in writing in the prescribed form containing the following particulars
Each year, at the registry
Not in our records Annual registry fee, Accounts on the public record, Audit for a small company, Audit: none of these is in our records for the Sole trader (individual business name).
Important dates
When each obligation falls due, as the authority states it.
Not in our records No dates for the Sole trader (individual business name) are in our records.
What is public
Not in our records What the register shows the public is not in our records for the Sole trader (individual business name).
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Varies · 0–30%
No separate entity: business profit is taxed in the individual's hands at the resident individual rates of the Income Tax Act (nil to UGX 2,820,000; then 10%, 20%, 30%, with an extra 10% above UGX 120,000,000).
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The income tax rates applicable to resident individuals are
- CFC rules in Uganda
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Notice of cessation of business, filed with URSB.
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Notice of cessation of business or removal of business name from the business names register
- Statutory fee
- UGX 35,000
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Notice of cessation of business or removal of business name from the business names register
Every business in Uganda
VAT
- Standard rate
- Not in our recordsThe tax authority’s pages have not been read for Uganda.
Payment and banking services
None of the services whose lists we hold names Uganda. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Sole traderDerived our grouping, the same words in every country
- Name in law
- Sole trader (individual business name)
- Identifier
- UG-SOLE-PROPRIETORA form ISO 20275 does not list.