Uganda - Taxation
Individual income is taxed progressively at rates ranging from 4% to 15% for residents, and 15% to 20% for nonresidents. In 2002, corporate income was taxed at 30% for resident companies, and 35% for nonresident companies. Social security taxes are paid by both employers and employees. Rental income is taxed at a rate of 20% on 80% of the gross income. A value-added tax (VAT) is set at 17% for all businesses with annual turnover of $35 thousand or more. The tax holiday for foreign investments was eliminated in 1997, replaced with accelerated appreciation schedules.