Sub-Sahara Mining & Industrial Journal
MiningNews

Uganda scraps gold export levy that prompted slump in sales

Uganda is abolishing a 5% export levy on refined gold that led to a slump in shipments overseas.

The levy has been scrapped in the revised revised Minerals and Mining Bill which is awaiting presidential approval, Moses Kaggwa, an acting director at the Finance Ministry said at a conference in the capital, Kampala.

Uganda introduced the levy — as well as a 10% tax on unprocessed gold — on July 1 last year to boost revenue from the metal, which had overtaken coffee as the top foreign exchange earner. It replaced an earlier charge of $200 a ton. Kaggwa didn’t say if a new flat rate fee would be imposed.

Related posts

SDLG getting the job done for 50 years

Mining_Editor

Tanzanian Gold receives mining license renewal extension for Buckreef project

Mining_Editor

AngloGold records solid performance in half-year 2022… as it declares dividend of $121m

Mining_Editor

Leave a Comment