Nakaayi’s sh220m prize money will not be taxed by URA

URA is not going to tax Nakaayi’s sh220m prize money according to section 21(ab) of the income tax.

“Awards received by sports persons as a reward from winning in the competition are exempt from tax,” URA said.

Uganda Revenue Authority (URA) will not levy any tax on Nakaayi’s sh220m prize money. This comes after Halima Nakaayi won a gold medal in the 800m final at the World Championships in Doha.

“We celebrate her for demonstrating the spirit of Uganda. She shocked the world with her IAAF Doha 2019 800m finals victory.” URA said on their twitter handle.

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Nakaayi’s sh220m prize money
Nakaayi celebrates her victory.

Gold medalists are being paid $60,000(sh219m) while silver medalists are banking $30,000(sh105m) in prize money.

In addition, other Ugandans have won the same prizes, for example, Davis Kamoga, Dorcus Inzikuru and Solomon Mutai in 2015.

We as cyclone times congratulate you upon your victory in Doha.

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Am Dhikusooka Brian a web app developer and an SEO Specialist at Interlet Limited. I am a writer at Cyclone Times Uganda and I love doing research so much. CONTACT ME ON +256701085038 OR +256775427530

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