Report: Ugandans among heavily taxed citizens in the world
The World Population Review has ranked Uganda at number 29 in terms of taxing her citizens.
The report shows that Uganda taxes 40% on income, 18% Sales and 30% Corporate Tax.
The 2023 report says Ivory Coast citizens pay the highest income taxes in the world.
While both its sales and corporate tax regimes may be considerably lower than those of other countries globally, at 60%, Côte d’Ivoire’s income tax rates are markedly higher compared to developed countries.
Only Finland (56.95%), Japan (55.97%), Denmark (55.90%), and Austria (55%), closely follow Côte d’Ivoire to round up the top five countries with the highest income tax, in a study that surveyed over 150 countries. South Africa comes second (in Africa) and 20 (in the World) taxing 45% on income.
No other African country makes it to the top ten list of highest-taxed countries in 2023—based on the highest personal income tax rates.
However Chad (35%), Equatorial Guinea (35%), Guinea (35%), Sudan (35%), and Zambia (35%), make it to the top ten in the list of countries with the highest corporate taxes.
Uganda Revenue Authority – URA – is expected to collected slightly over Shs 25 trillion before the close of 2022/2023 Financial Year.