On 15 June 2023, Uganda's Minister of Finance, Planning, and Economic Development, Matia Kasaija, delivered the Budget Speech for Financial Year 2023/2024. The main tax measures include the following as highlighted in the speech, which have already been enacted and generally apply from 1 July 2023.
Income Tax
The following amendments have been made to the Income Tax Act:
- Deductions allowed for accelerated wear and tear on plant and machinery and industrial buildings are repealed, includi…