NSSF asks for tax waiver on investment income

By Ritah Kemigisa

The National Social Security Fund, NSSF has asked for tax waivers on investment incomes.

Speaking at the NSSF 9^th Annual members meeting, the fund’s managing director Richard Byarugaba says such exemption will also translate into a higher interest payment for the savers.

According to Byarugaba, the biggest growth registered by the fund for this financial year is around income which grew from shs 1.4 trillion to shs 1.8 trillion.

The fund has also registered a 17% growth in its asset base by which now stands at shs 15.5 trillion largely driven by investment incomes.

However, finance minister Matia Kasaija said the reduction in taxes cannot happen when the government needs more funds to develop the economy.

Written by Noelyn Nassuuna