Uganda Drops 5% Export Levy on Refined Gold
Uganda dropped a 5% export tax on refined gold, Moses Kaggwa, acting director at the Finance Ministry, said at a news conference, Bloomberg reported Sept. 1. The tax was cited as causing a dip in overseas shipments of the gold.…
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The export levy was dropped in the revised Minerals and Mining Bill, which is awaiting presidential approval. Uganda imposed the tax, and a 10% tax on unprocessed gold, in July 2021 to increase the revenue collected from the key export, which last year became the country's top foreign exchange earner.