Tax Consultant Advises Entrepreneurs to Integrate Tax Planning

Sanyu Daisy Namayanja, a senior tax consultant at Bennett Advisory, emphasized the importance of incorporating tax obligations into monthly business budgets, alongside salaries, rent, utilities, and other operating expenses.

Namayanja highlighted that as the government expands the tax base and formalizes more businesses, those who neglect tax compliance may face significant liabilities.

She urged businesses to ensure accurate tax payments by maintaining proper records and adhering to statutory deadlines.

Namayanja noted that many entrepreneurs operate businesses for several years without prioritizing tax compliance, leading to accumulated obligations.

According to Namayanja, tax should be treated as a planned expense, similar to rent, salaries, and electricity.