AMFIU hosted the Minister of State for Microfinance, Hon. Kyeyune Haruna Kasolo, at AMFIU office. During the visit the minister met AMFIU members to sensitize them about the Tier 4 Microfinance Institutions and Money Lenders Act 2016 that was signed by the President. In his address he cautioned microfinance institutions and SACCOs from over charging their clients. “Some of you have opted to cheat your own clients by charging high interest rates and other charges that are not declared at the time of borrowing”

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The second quarter’s Industry Information Exchange (IIE) meeting was held on Thursday 16th June 2016 Imperial Royale Hotel, Kampala beginning at 2:00PM and will focus on Financial and Energy Diaries. The Association of Microfinance Institutions of Uganda (AMFIU), Financial Sector Deepening Project Uganda (FSDU), and the United Nations Capital Development Fund are supporting a research on Financial and Energy Diaries to provide in-depth information about consumers’ financial and energy behavior.

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The microfinance industry information exchange meeting for 3rd quarter was held on 7th August 2015 at Metropole Hotel in Kampala and it attracted 120 participants.There were 3 presentations focusing on taxation and Tier 4 regulation. The first presentation was on taxation of MFI/SACCOs and was made by Chillanyang Cyprian, Assistant Commissioner Uganda Revenue Authority. He represented Mr. Moses Kaggwa, the Commissioner Tax policy in the Ministry of Finance. The presentation focused mainly on the taxes that are collected from MFI/SACCOs namely VAT, domestic taxes, income tax, stamp duty & excise duty and the tips for being tax complaint. The second presentation focused on the Impact of Taxation on SACCOs and implications of the President’s pronouncement of exception of SACCOs. It was made by Patrick Sserubula, Manager, Institute Of Cooperatives – UCA.

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