Keep Business Records To Succeed In Business – No Doubt!

Keep Business Records To Succeed In Business – No Doubt!

A success-oriented business person must keep business records to succeed. Never avoid that fact because it’s a legal requirement in all countries worldwide. In Uganda, for instance, keeping business records is mandatory for any person carrying on a business. The Income Tax Act 1997 Section 157 spells out that “A person who deliberately fails to maintain proper records for a year under the requirements of this Act is liable to pay a penal tax equal to double the...