Uganda

Uganda

Amendment to the Income Tax Act provides for incentives

01 Jul 2017

The 2017-2018 National Budget, which went into effect on 1 July 2017, provides for the amendment of the Income Tax Act with a view to make the following changes, among others: As an incentive for businesses to invest upcountry, deductions for accelerated depreciation have been introduced. This will allow recovery of costs of acquiring plant and machinery and construction of industrial buildings much faster before the payment of corporate income tax.