Page 46 - Nexia SAB&T Africa Overview 2025

Uganda (GMT +3)

General:
▪ Capital City: Kampala
▪ Official Language: English, Swahili
▪ Currency: Ugandan Shilling (UGX)
▪ Main Exports: Coffee, tea, cotton, copper, fish, horticultural products
▪ Surface Area: 241,6 sq. km (thousands)
▪ Population: 51,3 million (2025,est)
Key Economic Indicators:
▪ GDP: $64,28 billion (2025) / GDP Growth Rate: 5.6% (2024)
▪ CPI Inflation Rate (annual): 4.2% (2025)
▪ Sovereign Credit Ratings: Moody’s: B3, S&P: B-, Fitch: B+ (High Credit Risk)
▪ Indicator of Economic Freedom Score: 51.3/100 (2025): Mostly Unfree
Exchange Controls:
▪ N/A
Basis of Taxation: (Tax Year End: 30 June)
▪ Residents: Worldwide income
▪ Non-residents: Ugandan-source income
Tax Rates:
▪ Individuals: Progressive rates to 40%
▪ Companies: 30%
▪ Inheritance and Donations Taxes: N/A
▪ VAT: 18%
▪ Withholding Tax: Varying rates apply to residents and non-residents
▪ Capital Gains Tax (CGT): Generally taxed as ordinary income
▪ Double Taxation Agreements: In place with several countries
Useful links:
▪ Ugandan Revenue Authority https://www.ura.go.ug
▪ Bank of Uganda https://www.bou.or.ug
▪ Uganda Investment Authority http://www.ugandainvest.com

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