Gold Price in Uganda Today

Gold overtook Uganda's traditional exports to become the country's single largest foreign-exchange earner in 2025, generating over $5.8 billion and accounting for 76.6% of total export earnings. The government has explicitly pushed to stop exporting unprocessed gold, backing the 2025 launch of Euro Gold Refinery Uganda Limited — the country's first fully Ugandan-owned refinery — with plans to move from raw bullion into domestically crafted jewellery under a "Made in Uganda" push.

Uganda zero-rates VAT on refined gold intended for export as of 2026, a deliberate policy to encourage legal exports and position the country as a regional gold trading hub, while separately introducing a new $200-per-kilogram export levy that applies to both local and foreign exporters.

Uganda's 2026 tax changes are focused on the export side of the gold trade rather than retail jewellery purchases -- for a jewellery transaction, ask the seller directly about applicable VAT and the general 6% withholding tax that applies to imports, since no jewellery-specific figure was confirmed in available sources.

Refined gold exported from Uganda is VAT zero-rated as of 2026, alongside a separate export duty of 3% on FOB value and a new flat $200-per-kilogram export levy introduced to formalise and regulate gold exports. General imports into Uganda carry a 6% withholding tax on CIF value; no gold- or jewellery-specific import VAT rate distinct from Uganda's standard 18% (which applies to services) was confirmed for retail jewellery in available sources.