The bank detailed in its October report that gold trading resumed in August. The report also elaborated on composition and the value of exports, noting that the trade returned a 32 percent growth in export receipts, which had declined for more than a year. Gold merchants in July of 2021, suspended trade as a result of disproportionate taxes. Prior to the suspension of the mineral’s export, gold accounted for at least 44% of Uganda’s total export earnings. The rate proposed for all gold exporters, is a charge of $100 (Shs381,178) or a 5 percent levy of the value of every kilogramme of exported gold.

Source: Daily Nation October 14, 2022 22:08 UTC