Uganda Revenue Authority after several warnings to Wavah Broadcasting Services (WBS TV) has decided to take over management of the station until it recovers tax arrears totaling to Shs. 7.2bn.
WBS was last year published on top of URA’s biggest tax defaulters with arrears then totaling to Shs. 5.4Bn. At 17 years, WBS is the country‘s first privately owned TV station.
This afternoon, officials from URA stormed the Naguru based station and after hours of engagement with management, decided to place the station under Receivership.
Under this arrangement, while tycoon Gordon Wavamunno is still owner of the television, he is not in charge of it anymore. URA imposed a new manager (Receiver) in the names of Mr Kabiito Karamagi.
Mr Karamagi’s new role will be primarily to recover tax arrears on behalf of the tax body.
“The team from the Uganda revenue authority led by Acting Commissioner general Carol Ssekandi together with a team of lawyers representing WSB management revealed that this was the first venture of this kind in the country,” said WBS in a statement on Monday evening.
“The Receiver has been given mandate to appraise WBS operations and collect funds to settle arrears. WBS is still owned by Prof. Wavamunno but under different management,” clarified URA in a statement.
The new receiver manager at WBS TV Mr Kabiito Karamagi, a Legal advocate of the high court who now takes over from Professor Wavamunno revealed that he will be able to turn the station around for the best.