January-March 2012 REVENUE ASSURANCE BEYOND THE TELECOM AN INSIGHT INTO TAXATION OF INDIVIDUAL RENTAL FAIR VALUE PROPERTY MEASUREMENT THE IMPORTANCE OF INTEGRITY SHOULD UGANDANS BE CONCERNED ABOUT THE EUROPEAN DEBT CRISIS? MOVING UGANDA FORWARD TOUGHER ECONOMIC TIMES AHEAD CPA UGANDA MARKS INAUGURAL FINANCIAL REPORTING AWARDS Financial Reporting Awards (FiRe) are on this November 2012 Entries starting in June 2012 For further information on the ICPAU FiRe Awards, please contact: The Secretary, ICPAU, 42 Bukoto Street, Kololo . Tel: 041-4540125, 031-2262333/265590, 071-2830681 Fax: 041-4540389 Email:
[email protected],
[email protected] Website: www.icpau.co.ug January- 20 March 12 CONTENTS REVENUE REDUCING TAX ASSURANCE BALANCING ETHICS EVASION BEYOND THE AND WORK TELECOM PRACTICES Tax Evasion 11 10 14 New Tax Civil and System Tax Criminal Reforming the Tax Penalties Compliance Culture Administration Tax Data Collection and Public Opinion of Selectivity Government PROFESSIONAL ETHICS MAIN FEATURE TECHNICAL 17 SHOULD UGANDANS BE CONCERNED IASB ISSUES THREE THE IMPORTANCE OF 21 ABOUT THE NEW STANDARDS INTEGRITY 29 EUROPEAN DEBT CRISIS? BUSINESS TAXATION TOUGHER ECONOMIC TIMES AHEAD 25 32 AN INSIGHT INTO TAXATION OF INDIVIDUAL RENTAL PROPERTY Today’s Accountant Magazine is published by Golf100 Magazines on behalf of The Institute of Certified Public Accountants of Uganda ( ICPAU) The information contained in this publication is given in good faith and has been derived from sources believed to be reliable and accurate. However, neither Golf100 Magazine Ltd, nor ICPAU accept any form of liability whatsoever for its contents including advertisements, editorials, opinions, advice or information or for any consequences from its use.