Amendment to tax law
01 Jun 2018
To promote both domestic and foreign investment, the Government has introduced incentives focusing on industrialization with the objective of job creation, value addition to local raw materials, export promotion, and promotion of tourism. Among others, these include incentives for investments in the development of industrial parks or free zones, establishment of new factories, and development of hotels and tourist facilities. The amendment to the tax law offers income tax holidays for operators and investors of an industrial park or free zone, which include (a) ten years holiday for capital investment of at least USD 200 million from the date of commencement of construction and (b) a five years holiday for investment capital of at least USD 30 million in the case of foreigners or USD 10 million in the case of Ugandan citizen from the commencement of business.
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Type:
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Promotion and facilitation (Special economic zones)
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Industry:
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Sources:
