{"id":17957,"date":"2021-09-19T14:35:35","date_gmt":"2021-09-19T14:35:35","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=17957"},"modified":"2021-09-19T13:44:43","modified_gmt":"2021-09-19T13:44:43","slug":"uganda-loses-shs400b-in-gold-tax-in-two-months","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-loses-shs400b-in-gold-tax-in-two-months","title":{"rendered":"Uganda loses Shs400b in gold tax in two months"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/uganda\">Uganda<\/a>. <\/strong><\/span>Government\u2019s decision to impose a 5 per cent tax on every kilogramme of refined gold and 10 per cent on unprocessed export of the precious mineral has seen Uganda lose Shs475.257 billion in revenue in the last two months.<\/p>\n<p>Dr Albert Musisi, the commissioner of macro-economics at the ministry of Finance, who appeared before MPs on the Finance Committee on Thursday, said in July and August, government failed to extract any revenue from the lucrative gemstone.<\/p>\n<p>He said this is a heavy blow to the government and strongly discourages private sector dealings in the valuable mineral.<\/p>\n<p>\u201cFor the last two months, we have not made many exports. It is something to do with the new fiscal policy on minerals. We are engaging the private players to have a harmonised position on that,\u201d Dr Musisi said.<\/p>\n<p>\u201cThe players have requested the government to revise this tax downwards and negotiations are being held to this end. Pending the conclusion of these negotiations, there were no exports of gold from Uganda in the month of July,\u201d he said.<\/p>\n<p>The 10th Parliament in May approved the Mining Bill (Amended) 2021, okaying the government to impose the 5 per cent levy on every kilogramme of refined gold and 10 per cent on unprocessed gold exported.<\/p>\n<p>The revenue loss is attributed to the illegal channels through which the local traders conduct the trade.<\/p>\n<p>The State minister of Finance in charge of Planning, Mr Amos Lugoloobi, promised a remedy would be drawn by his office.<\/p>\n<p>\u201cIf there are any minerals that are smuggled, that is unfortunate. It means that there is someone who is not doing his job to allow our minerals to be smuggled out of the country. We shall find a solution to this,\u201d Mr Lugolobi assured the MPs.<\/p>\n<p><b>[email protected]<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Uganda. Government\u2019s decision to impose a 5 per cent tax on every kilogramme of refined gold and 10 per cent on unprocessed export of the precious mineral has seen Uganda lose Shs475.257 billion in revenue in the last two months. Dr Albert Musisi, the commissioner of macro-economics at the ministry of Finance, who [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":17956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,240,234],"class_list":["post-17957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Uganda loses Shs400b in gold tax in two months - Uganda<\/title>\n<meta name=\"description\" content=\"Government\u2019s decision to impose a 5 per cent tax on every kilogramme of refined gold and 10 per cent on unprocessed expo ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-loses-shs400b-in-gold-tax-in-two-months\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uganda loses Shs400b in gold tax in two months\" \/>\n<meta property=\"og:description\" content=\"Government\u2019s decision to impose a 5 per cent tax on every kilogramme of refined gold and 10 per cent on unprocessed expo ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-loses-shs400b-in-gold-tax-in-two-months\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-19T14:35:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2021\/09\/img-61473eb62522b.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1160\" \/>\n\t<meta property=\"og:image:height\" content=\"652\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-loses-shs400b-in-gold-tax-in-two-months#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-loses-shs400b-in-gold-tax-in-two-months\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Uganda loses Shs400b in gold tax in two months\",\"datePublished\":\"2021-09-19T14:35:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-loses-shs400b-in-gold-tax-in-two-months\"},\"wordCount\":305,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-loses-shs400b-in-gold-tax-in-two-months#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2021\/09\/img-61473eb62522b.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-loses-shs400b-in-gold-tax-in-two-months#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-loses-shs400b-in-gold-tax-in-two-months\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-loses-shs400b-in-gold-tax-in-two-months\",\"name\":\"Uganda loses Shs400b in gold tax in two months - 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