Uganda’s technology park to get a boost through tax incentives

Mergers, Acquisitions and Financial Results

The Commonwealth Business Council has asked for tax exemptions for the planned information technology (IT) park, "To achieve the objective of a thriving IT park, the council has suggested an IT policy framework including 100% tax exemption for the lease income, capital gains and services provided in the park for 20 years from commencement," a statement from the council said. The council also suggested 100% tax exemption on companies and staff located in the IT park for 20 years from commencement, simplified and quick clearances of work permits for IT staff and no restriction on repatriation of profits/salaries. It also wants 100% duty exemption on capital equipment imports into the park.

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