Uganda: Tax On Gains
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Tax Example: Capital Gains
PROPERTY VALUE / SALES PRICE OF THE PROPERTY1 |
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| Non-resident couple's initial value of residential property | US$2,500,000 | US$20,000,000 | |
| Less : Acquisition Costs | (250,000) | (2,000,000) | |
| Less : Improvement Costs2 | (10,000) | (10,000) | |
| = Taxable Capital Gains3 | US$2,240,000 | US$17,990,000 | |
| Income Tax Rates4 | |||
| Up to UGS2,820,000 | 10% | ||
| UGS2,820,000 – UGS4,920,000 | 20% | ||
| Over UGS4,920,000 | 30% | 671,582 | 5,396,582 |
| Tax Due on Realized Capital Gains | US$671,582 | US$5,396,582 | |
| Tax Due as % of Sales Price | 26.7% | 26.8% | |
Thanks to: |
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DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on November 24, 2008.
Notes
1 Realized capital gains from the sale of real property are taxed at the standard income tax rates. Exchange rate as of 10 October 2008: US$ 1 = UGS1,850.
2 Estimated costs.
3 When computing taxable capital gains, acquisition costs and improvement costs are deductible from the property value at the time of the sale or sales price of the property.
4 Income tax rates for non-resident individuals.
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