The State has concluded its inquiry into the case of city businessman Sikhou Gassama, who is accused of tax evasion amounting to sh9.6 billion. Allan Nkoyoyo, a legal officer at Uganda Revenue Authority, leading the prosecution, informed the Nakasero-based Anti-Corruption senior principal Grade One Magistrate, Abert Asiimwe, on January 16, 2024, that investigations are complete, and the state is prepared to prosecute Gassama.
The charges against Gassama include making false statements, false declarations, failure to maintain proper records, and money laundering. These charges fall under various sections of the Tax Procedures Code Act of 2014, the East African Community Management Act of 2004, and the Anti-Money Laundering Act of 2017, as amended.
Gassama, aged 61, is accused of filing fake income tax returns between 2016 and 2022, allegedly underreporting a total income of sh9.6 billion to a tax officer at Uganda Revenue Authority. Prosecution claims that during the same period, as the director of Gassama & Brothers Company Limited at Sarah Mall, Martin Road, in Kampala, Gassama failed to maintain proper business records for tax purposes.
The money laundering charges stem from allegations that Gassama intentionally concealed and disguised the source of sh9.6 billion between 2016 and 2022 at Sarah Mall, Martin Road, in Kampala. Prosecution asserts that he knew the money was a proceed of a crime.
The case has been scheduled for mention on February 20, 2024, during which the prosecution will disclose the documents to be relied upon during the trial. Gassama, currently on bail, faces severe penalties if convicted under the relevant laws.
Legal Consequences
- Making false statements to a tax officer could lead to two years imprisonment or a fine not exceeding sh960,000.
- Under the East African Community Customs Management Act of 2004, a person found guilty may face imprisonment for a term not exceeding three years or a fine not exceeding $10,000 (approximately sh37.7 million) or both.
- Failure to keep proper records may result in two years imprisonment or a fine not exceeding sh960,000.
- Money laundering, as per the Anti-Money Laundering Act, could lead to 15 years imprisonment or a fine not exceeding sh2 billion.
