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Uganda Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
40,853,749 (July 2018 est.)GDP (PPP)
$89.2 billion (2017 est.)Agriculture is one of the most important sectors of the economy, employing 72% of the work force
GDP growth rate
4.8% (2017 est.)High, but unstable over the years
GDP (PPP) per capita
$2,400 (2017 est.)Very low. One of the poorest countries in the world
Local currency
Ugandan shilling (UGX)Weak currency, nevertheless it has been quite stable in the past 4 years
Financial stability (Public debt)
40.0% (2017 est.)Low, however Uganda’s economic growth has slowed since 2016 as government spending and public debt has grown
Inflation
5.6% (2017 est.)High and unstable
Language
English and Swahili both officialEnglish is widely spoken
Corruption perception index (Source: Transparency International)
Rank 149/180High level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
18% standard VAT rateA zero-rate applies to exports of goods/services, drugs/medicines manufactured in Uganda, seeds, fertilisers, pesticides, hoes, leased aircraft, aircraft engines, spare engines, parts for aircraft, and aircraft maintenance equipment
Corporate Tax
30% standard rate, subject to a minimum tax.Reduced corporate income tax is applicable to small resident companies.
Duties
Duties range from 0% to 60%, depending on the item imported.Rates are provided by the East African Community common external tariff code.
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