Uganda: Government plans smoother tax measures to attract investors
(Ecofin Agency) - The Ugandan government plans to adopt new tax relief measures to encourage investments within the country, the Uganda Revenue Authority (URA) said June 12.
According to information relayed by Xinhua, the measures should exempt companies in free zones and industrial parks from taxes, with a particular focus on those with projects of at least $200 million, over a 10-year period.
By doing so, authorities hope to increase export and create more jobs. Government wants to attract at least one billion in the country's free zones via the private sector, by 2020.
It should be noted that the new tax incentives, set to come into force as of the next budget year starting in July, target value added taxes, excise duties and income tax.
Moutiou Adjibi Nourou