Operatives from the Uganda Revenue Authority (URA) are reportedly investigating former Bank of Uganda (BoU) Director for Supervision Justine Bagyenda, over allegations of evading taxes amounting to billions of shillings.
Bagyenda, who was recently fired in a restructuring process at BoU, has allegedly been evading tax remittances for several years.
Bagyenda is said to be hiding over Shs19 billion in both shilling and dollar currencies in several commercial banks in Kampala, and owns over 20 properties worth hundreds of millions of shillings.
However, when URA compiled a list of top tax payers in Uganda in October on which several city business personalities appeared as the top income tax payers, Bagyenda’s name was nowhere to be seen.
Some of the top tax payers that URA listed included individual rental income tax payers like Muhammed Hussein, Karim Hirji, Virani Aisha, Godfrey Kirumira, Lubega Charles, Karia Rita, Tumwesigye Mustafa, Thakkar Nita, John Muwonge, plus companies like BAT, BIDCO, Megha Industries, MULCO Textiles, Ministry of energy, Mukwano, Golf course group, Multiple ICD, PDM Uganda Limited, Capital shoppers, Tembo Steels, DFCU Limited among others. After realizing that Bagyenda is extremely wealthy but her tax remittance schedule is greatly lacking, URA operatives have reportedly launched an audit investigation into her operations so as to ascertain why she has been evading taxes, with intent to make her cough all the taxes she hasn’t remitted for the period under review.