{"id":5374,"date":"2014-05-20T11:40:35","date_gmt":"2014-05-20T11:40:35","guid":{"rendered":"http:\/\/fortuneofafrica.com\/ug\/?page_id=5374"},"modified":"2014-05-20T11:40:35","modified_gmt":"2014-05-20T11:40:35","slug":"investment-incentives-in-mining-sector-in-uganda","status":"publish","type":"page","link":"https:\/\/afrifacto.com\/ug\/investment-incentives-in-mining-sector-in-uganda\/","title":{"rendered":"Investment incentives in mining sector in Uganda"},"content":{"rendered":"<p>The following are the investment incentives in mining sector in Uganda<\/p>\n<p><strong>Uganda Investment Authority (UIA)<\/strong><\/p>\n<p>UIA is under Ministry of Finance &amp; Economic Planning and Economic Development put in place an Investment Code, 1991.<\/p>\n<ul>\n<li>The Code encourages private investment by streamlining procedures and guaranteeing protection of investors against appropriation. Foreign individuals and companies &#8211; own 100% of a business in Uganda (Mining companies inclusive<\/li>\n<\/ul>\n<p><strong>General investment incentives<\/strong><br \/>\nUnder the Income Tax Act, Cap.340 the mining companies are given special consideration through a Variable Rate Income Tax (VRIT). The rationale for this arrangement is to capture a competitive share of net cash flows for the government at different mine profitability levels while at the same time providing suitable tax relief for projects. A minimum of 25% and a maximum 45% VRIT have been put in place depending on the level of profitability.<\/p>\n<p>Also under other tax provisions (like the East African Community Customs Management Act and Value Added Tax Act, Cap.349), there is the duty free importation of mining plant and equipment with VAT deferment facilities.<\/p>\n<p><strong>Other incentives are:<\/strong><br \/>\n\u2022 Investment protection under the Multilateral Investment Guarantee Agency (MIGA)<br \/>\n\u2022 Mineral exploration expenditures are expensed 100%<br \/>\n\u2022 Import taxes such as customs duty for all mining equipment is zero-rated<br \/>\n\u2022 There is externalisation of dividends and profits<br \/>\n\u2022 Generous depreciation allowance at 30% for all depreciable mining assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The following are the investment incentives in mining sector in Uganda Uganda Investment Authority (UIA) UIA is under Ministry of Finance &amp; Economic Planning and Economic Development put in place an Investment Code, 1991. The Code encourages private investment by streamlining procedures and guaranteeing protection of investors against appropriation. Foreign individuals and companies &#8211; own [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_uag_custom_page_level_css":"","footnotes":""},"class_list":["post-5374","page","type-page","status-publish","hentry"],"blocksy_meta":[],"acf":[],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false},"uagb_author_info":{"display_name":"admin","author_link":"https:\/\/afrifacto.com\/ug\/author\/admin\/"},"uagb_comment_info":0,"uagb_excerpt":"The following are the investment incentives in mining sector in Uganda Uganda Investment Authority (UIA) UIA is under Ministry of Finance &amp; Economic Planning and Economic Development put in place an Investment Code, 1991. The Code encourages private investment by streamlining procedures and guaranteeing protection of investors against appropriation. Foreign individuals and companies &#8211; own&hellip;","_links":{"self":[{"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/pages\/5374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/comments?post=5374"}],"version-history":[{"count":0,"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/pages\/5374\/revisions"}],"wp:attachment":[{"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/media?parent=5374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}