Uganda: Living There - Tax Issues
In Depth
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- Rental Yields
- Taxes and Costs
- Tax on Rent (Example)
- Tax on Gains (Example)
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Living There
INDIVIDUAL TAXATION
Residents of Uganda are taxed on their worldwide income. An individual is considered to a resident of Uganda for tax purposes if he has established a permanent home in the country, have stayed for an aggregate of 183 days in a year, or have visited the country for an average of more than 122 days for three consecutive years.
INCOME TAX
All income, excluding rental income, is generally aggregated and is subject to progressive income tax rates. Expenditure and losses incurred in the production of income are deducted from the gross income.
INCOME TAX FOR RESIDENTS |
|
| TAXABLE INCOME, UGS (US$) | |
| Up to 1,560,000 (US$736) | 0 |
| 1,560,000 – 2,820,000 (US$1,330) | 10% on band over US$736 |
| 2,820,000 – 4,920,000 (US$2,321) | 20% on band over US$1,330 |
| Over 4,920,000 (US$2,321) | 30% on all income over US$2,321 |
| Source: Global Property Guide | |
RENTAL INCOME
Rental Income Tax
Rental income is taxed separately from other sources of income. Rental income tax is levied at a rate of 20% on the net rental income. A standard deduction of 20% of the gross income is given to account for inco-generating expenses such as repair and maintenance costs. A tax threshold is also granted annually and currently the tax-free allowance is UGS1,560,000 (US$736).
RENTAL INCOME TAX FOR RESIDENTS |
|
| TAXABLE INCOME, UGS (US$) | TAX RATE |
| Up to 1,560,000 (US$736) | 0 |
| Over 1,560,000 (US$736) | 20% on all income over US$736 |
| Source: Global Property Guide | |
CAPITAL GAINS
No capital gains tax is levied in Uganda.
However, capital gains from business is considered as income and taxed at the standard progressive income tax rates.
PROPERTY TAX
Property Tax
Property taxes are levied by the local governments and the tax base is the rateable value of the property (which takes into account the nature of the property concerned and value of improvements). The tax rates are determined by the local authorities but a maximum of 2% is prescribed by law.
Uganda - more data and information
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