Скачать или смотреть Uganda’s gold exports rise more than 10 times in a year

Uganda’s gold industry has retaken the number one spot of the nation’s exports after grossing $2.3 billion during the 12 months leading up to February 2024. Uganda’s gold exports increased by more than 10 times from the previous 12 months, during which only $201 million worth of gold was exported, due to disagreements between the government and the more than 20 gold refiners and exporters over taxes. According to the Nile Post, the Ugandan Parliamentary Committee on Finance, Planning, and Economic Development discovered in May 2023 that the government had lost $160.8 million in uncollected taxes on gold exports since July 2021. As stated in The Independent, the Ugandan government resolved the impasse last year by lowering the tax on gold exports to $100 per kilogram from $200. Representatives from three gold refineries and exporters— Bullion Refinery, Aurnish Trading, and Metal Testing—that unsuccessfully contested the previous tax on gold in court—discussed lowering the tax rate with the tax authority. As mentioned by Reuters, new mines like Chinese Wagagai Mining also had a lot to do with the increase in gold exports the previous year. It should be noted that an article written by Global Initiative claims that most of Uganda’s gold comes from neighboring DRC and South Sudan, with almost all of it smuggled. The United Arab Emirates imports roughly 98% of Uganda’s gold.