BAT Uganda pays 40.4 billion taxes in first half of 2018

BAT Uganda pays 40.4 billion taxes in first half of 2018
Eazzy Banking

Kampala, 26th July 2018British American Tobacco Uganda Limited posts a profit after tax of Ushs. 6.2 billion and pays Ushs 40.4 billion as tax to the Government as per its unaudited results for the six months to 30th June 2018.

British American Tobacco Uganda Limited (‘BAT Uganda’) announced its unaudited results for the first half of 2018.

Commenting on the results, Managing Director Mr. Mathu Kiunjuri said: “In the first half of 2018, BAT Uganda posted a profit after tax of Ushs. 6.2 Billion. This was attributable to higher operating profit and lower financing costs.”

“BAT Uganda remains a significant contributor to Government revenues. Contribution to Government revenues in the form of Excise Duty and VAT stood at Ushs 40.4 billion for the six months to 30 June 2018.”

“We anticipate that we will continue growing our shareholders’ value owing to the equity of our quality products and robust distribution network.”

In his remarks after the announcement, the Chairman of the board, Dr. Elly Karuhanga, said: “I am pleased with the progress of the business in the first half of the year, notwithstanding the adverse impacts of illicit trade and increased costs of doing business resulting from fuel price hikes witnessed during this period. I reiterate BAT Uganda’s commitment to building a strong and sustainable business to deliver value for its shareholders and other stakeholders.”

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