Chelangat Brian.

Junior Economist with great interest in policy and Development Economics. #Proud Kalenjin#.
A believer and a leader.

[BBC News (UK) @BBCNews]

I've spent 30 years in recruitment - this is how to get a job https://t.co/XAmvxG7OsD

[Ministry of Finance @mofpedU]

TAX BILLS 2026/27:
State Minister for General Duties @henrymusasizi1 has said @GovUganda projects to generate UGX 1,741 billion in FY 2026/27 from the tax policy proposals contained in the bills and UGX 3,164 billion from URA administration measures, which contributes to the projected revenue effort of 15.5% of GDP, representing a growth of 0.6 percentage points .

The Minister made the remarks while presenting the
the Tax Bills for FY 2026/27 to the Finance Committee of @Parliament_Ug

TAX BILLS:
✅️The Income Tax (Amendment) Bill, 2026;
✅️The Excise Duty (Amendment) Bill, 2026;
✅️The Value Added Tax (Amendment) Bill, 2026;
✅️The Tax Procedures Code (Amendment) Bill, 2026;
✅️The Stamp Duty (Amendment) Bill, 2026;
✅️The External Trade (Amendment) Bill, 2026;
✅️The Lotteries and Gaming (Amendment) Bill, 2026; and
✅️The Traffic and Road Safety (Amendment) Bill, 2026.

"The Bills are meant to raise revenue, foster compliance and assist @URAuganda in its work," said the Minister adding that revenue mobilization plays a critical role in financing Government priorities for socio-economic transformation.

@henrymusasizi1 also said the proposed amendments are complemented by the improvements in tax compliance,adding that the compliance strategies are designed to expand the tax base by bringing on board persons currently outside the tax net.

TAX POLICY PROPOSALS:

INCOME TAX:
➡️An option for taxpayers to pay rental income tax monthly.
➡️Introduce a withholding tax of 10% on commissions paid to data and voice bundle distribution agents.
➡️Introduce an Alternative Minimum Tax of 0.5% for businesses which carry forward losses beyond 7 consecutive years.
➡️Introduce 6% final witholding tax on non business assets.
➡️Introduce a withholding tax of 6% on public entertainers.

VAT:
➡️Increase the VAT Threshold from UGX. 150 million to UGX 250 million. 
➡️Clarification of the taxation of imported software.

STAMP DUTY:
➡️Increase the stamp duty on land transfers from 1.5% to 3%.
➡️Introduce Stamp duty on motor vehicle and Motorcycle registration both at first registration and on transfer as follows:  Motor vehicle registration at UGX. 100,000 for regular vehicles and UGX. 200,000 for commercial motor vehicles and motorcycles at UGX. 50,000.

EXCISE DUTY:
➡️Increase excise duty on diesel and petrol by UGX. 200 per litre.
➡️Increase the specific excise duty rate on any other un-denatured spirits of alcoholic strength by volume of less than 80% from UGX 1700/litre to UGX 3500/litre. 
➡️Increase excise duty at first registration on motorcycles from UGX. 200,000 to UGX. 500,000.
➡️Extend excise duty to apply on all single use plastics and increase the rate from 2.5% or USD 70 per ton whichever is higher to 25% or USD 1,500 per ton whichever is higher.
➡️Increase excise duty on cement from UGX. 500 to UGX. 1,000 per 50 kg.
➡️Increase excise duty rate for sugar from Shs. 100 per Kg to Shs. 300 per Kg.
➡️Introduce excise on cooking fat and fatty acids at UGX. 500 per liter/ Kg.
➡️Increase excise duty on cooking oil from UGX. 200 to UGX. 400 per litre.

TRAFFIC AND ROAD SAFETY ACT:
➡️Reduce the age of acceptable cars from 15 years to 13 years from the date of manufacturing. Introduce a graduated scale of environmental levy on imported used motor vehicles.

[Ramathan Ggoobi @rggoobi]

When we began crafting the strategy to grow Uganda’s economy to $500 billion, we asked ourselves a fundamental question:
What will we do differently this time?

Here are five things we came up with:

[VoxDev @vox_dev]

📢 Call for economics job market candidates

@EconomicMisfit invites you to share a non-technical summary of your job market paper, which will be published as part of an ongoing blog series: https://t.co/qMvAIXlIY2

See details below⤵️

[Andrew Kyamagero @kyamageroandrew]

When a man enters marriage through the gate of transaction, he must understand that he also enters the house of expectation. The future does not forget the foundation.

If the relationship begins with a cost,
the marriage may continue with an invoice.

When a man builds a house for the mother-in-law before he builds emotional security with his wife,
he has silently signed a covenant that says:

“My value in this union is measured by what I can provide, not by who I can become.”

And the universe will hold him to that contract.

He risks becoming a walking resource, not a partner.
His love will be appreciated, yes…
But his value will be calculated.

The danger?
When he cannot deliver financially, his moral contribution may be dismissed like currency that has lost value.

This is not a condemnation, it is a caution.

There are two types of men:

The man who pays a price because he is desperate.

And the man who pays a price because he is prepared.

If he was prepared, anchored in identity, grounded in purpose, then this sacrifice becomes a seed that bears fruit.

But if he was desperate, performing worthiness to earn love, then this sacrifice becomes a debt that keeps collecting interest.

Marriage is not the problem ,the foundation is.
If the foundation is transactional,
The future will require receipts.

Let the sons of Africa listen.
For tomorrow is already watching how we build today.

[Bank of Uganda @BOU_Official]

Yesterday, the Bank of Uganda maintained the Central Bank Rate (CBR) at 9.75% for August 2025.
What does this mean for you — and why was this decision made?
The BoU Monetary Policy at a Glance breaks down the key facts in seconds while our Monetary Policy FAQs answer the questions you’ve been asking, from inflation to interest rates.
#BOUCBR

[Kakande Alex @KakandeAlex]

How to Invest in Treasury Bonds with a starting Capital of Just UGX 100k.

Building a simple but effective Profit maximization strategy with the use of Unit trusts and Treasury Bonds.

Adoptable by Many.

[iRagaba Charles RONALD @madebyiragaba]

WE SHALL NEVER MAKE IT

[Kakande Alex @KakandeAlex]

Treasury Bonds Investments.

How to effectively build a Bond portfolio that generates you monthly income (cashflows) like rental incomes.

This strategy is good for those with a little more money to invest.

[Kakande Alex @KakandeAlex]

Treasury Bonds Investments. Auctions results out. Rates falling!!

Yesterday's auction results are out, and as expected, interest rates have dropped from their significant highs in December 2024 and January 2025. The market is now beginning to price in this trend and is expected to continue in the coming weeks, with interest rates on various treasury bonds tenors likely decreasing every week.

Today’s results.

UG12G0907265: 2-Year Treasury bond with a coupon rate of 13.5% and a withholding tax (WHT) of 20%, maturing in July 2026 coming out at 15.7%

UG0000001533: 5-Year Treasury bond with a coupon rate of 14.25% and a WHT of 10%, maturing in August 2029.

The interest rate for this bond has dropped from 16.75% in early January to the current rate of 16.25%, marking a 50-basis point decrease in just over 30 days. This shift indicates the direction in which various interest rates are heading.

As I always say, time in the market is better than timing the market. A dear friend of mine purchased this five-year bond from the secondary market two weeks ago and secured a better rate than most of us who waited for the primary market to buy this bond.

Therefore, when investing in treasury bonds, it is crucial to be proactive and engaged. My friend took a calculated risk by buying the five-year bond from the secondary market at a favorable rate, paying less than what others would pay in the primary market. This means that two weeks ago, interest rates were significantly better than they are now.

UG12K2306393: 15-Year Treasury bond with a coupon rate of 15.8%. Its interest rate has dropped from 17.5%, which investors enjoyed, to the current rate of 17%. Given the time that has passed, the current discount is around 5% for every 100 shillings, attributed to accrued interest.

Therefore, someone who invested in January received a better deal compared to someone investing in the same bond now in February.

Alex Kakande

[Kakande Alex @KakandeAlex]

A Step-by-Step Guide to Investing in Treasury Bonds and Bills in Uganda

Many of you have inquired how does someone invest in Treasury securities, in this email, I break down the step-by-step guide of Investing in Treasury securities.

There are two types of Secuties.

Treasury Bills:

These are short-term instruments that allow the public to lend money to the Government for periods of 91 days, 182 days, and 364 days. They are issued at a discount, meaning you buy them for less than their face value and receive the full amount at maturity.

For example, you might buy a Shs 10,000,000 Treasury bill for Shs 8,860,200 and receive Shs 10,000,000 when it matures a gross profit of Shs 1,319,800.

The Treasury Bills have a tax element of WHT 20% and thus on the Shs 1,319,800 profit you would have made, you would pay a tax of Shs 263,960

The results of the recently concluded Treasury bills.

Treasury Bonds:
These are long-term investment instruments, allowing the public to place funds with the Government for periods of 2, 3, 5, 10, 15, or 20 years. They pay interest periodically, typically every six months.

From a Withholding tax for the 2, 3 and 5 years are typically 20% for the coupon income you make.

How the numbers would look like for someone investing in a 3-year bond before compounding of your investments.

For 10-, 15-, and 20-year treasury bonds, the Withholding tax is 10% of the coupon income.

How the numbers would look like for someone investing in a 10 year bond before compounding of your investments

Who Can Invest?

Any Ugandans with a commercial bank account can invest in Treasury Bonds and bills.

All you have is to go to your commercial Bank Branch and ask for the CSD Account opening forms and they will provide it to you and fill it up and be ready to invest.

Investors can participate in the Uganda government securities market through:

Primary Auctions:

These are conducted as per the Auction Calendar frequency on the BOU website. This is where new securities are issued or are re-opened. Investors submit bids to buy these securities directly from the government though their commercial banks.

To buy from the primary market, you must fill up form CSD Form 2 with your commercial bank and its advisable to do so in 2-3 days before the Auction date.

All successful bids are settled by directly debiting the commercial bank accounts at the Central Bank for the value of the securities/investments through a particular commercial bank. This process ensures transparency and efficiency in the allocation of government securities. If you go through the non-competitive bidding which limits you to just UGX 200 Million, then your bond will be fully allocated.

Secondary Market:

Available any working day, this is where existing securities are bought and sold among investors. This market provides liquidity, allowing investors to sell their securities before maturity if needed

There is no WHT when selling or buying in the secondary market.

This tax policy ensures that the government collects revenue from interest earnings while providing some relief for long-term investments.

Happy Investing
Alex Kakande

[Prof. Nuwagaba Augustus @ProfNuwagaba]

What is the Role of Economic Nationalism in Growth and Transformation
For the last few years, I have been a Consultant for the World Bank (WB) and African Development Bank (AfDB).

[Toan Truong @LearningToan]

I'm 19.

I’m obsessed with learning how to learn.

So, I spent 300+ hours studying how geniuses, prodigies, and high performers master their disciplines.

Here's what I found on how to master anything faster... 🧵(thread)

[Kakande Alex @KakandeAlex]

Those about to get your NSSF, or about to get a significant pay check
If you know someone who is about to get a really good amount, send them this article.

Next week, we will write it from a more relatable view of 10 million - 50 million.

I'm finalizing the research on it.

[Parliament Watch @pwatchug]

The Ministry of Finance revealed that the decision to exempt MPs from paying taxes on their emoluments has seen Uganda lose out over Shs638.6Bn in taxes in the past 5years. This followed an amendment to the Income Tax Act in 2016, where MPs agreed to exempt their emoluments from tax, on the grounds that the move would relieve MPs from the burden of paying taxes and recognize expenses incident to the discharge of their duties.

The highlights are contained in the Tax Expenditure Report FY2022/23, which listed; MPs, @JudiciaryUG , @MODVA_UPDF , @PoliceUg, @UgandaPrisons , Security organs as some of the public servants enjoying tax exemption on their incomes in Uganda.

[Agather Atuhaire @AAgather]

Threats on my life

Last Thursday 1st Aug 2024, someone called my elder sister and said they had a message for her from CMI. They asked her if she was in town and she told them she was on Entebbe road. She had thought this would discourage them from insisting on meeting her but they said they would find her wherever she was.

She suggested they meet at Quality mall in Lubowa. Within a few minutes they were there and they called her. She was still going about her business in the neighborhood so she asked them to give her 20 mins. When she got there, there were three men seated who waved and told her they’re the ones waiting for her. They said they have confirmed she’s my sister because we look alike.

They told her they’re from CMI and they had come to tell her to warn me that they will kill me. They told her they know where I jog from, they apparently even knew where I was at the moment they were talking to her because there’s someone always following me waiting for an order to run me over or bump me off the road.

Reason; because apparently they will not allow some small girl to give them sleepless nights because she can afford to get money from foreign agents to pay young people to protest.
When my sister said that’s not true they told her I’ve been receiving money on my phone to which she responded that I had told her people asked me to receive contributions to help those that were arrested. “Why must she be the one to receive the contribution?” They asked arrogantly. My sister responded that she didn’t know the reason. They called someone that they put on the phone to emphasize the point to my sister that they claimed was Birungi the head of CMI.

They didn’t give her their names but a person that saw them at a distance told us one is called Muzoora and another one Chris Bya-something. They didn’t know the third one.

I am putting this here so that if something happens to me or any of my family members well meaning Ugandans will know where to start.

You guys don’t own this country and you definitely don’t own our lives.

Tomorrow I will write about the genesis of this whole paying money to protestors propaganda.
#StopAbuseOfPowerUg

[Jim Spire Ssentongo @SpireJim]

We should free our minds

[Mujuni Raymond @qataharraymond]

I often, in times of great strife, return to this address by Chief Justice John G. Roberts, Jr.

“I wish you bad luck so that you understand the role of chance in life and that your success is not entirely deserved”

https://t.co/WwqmjLKGpI

[Kenny | Accent Investing @AccentInvesting]

Hard skills get you hired.

Soft skills get you promoted.

Over the next 6 months, prioritize the following soft skills to outperform 99% of your peers:

[Andrew Lokenauth @FluentInFinance]

Never let your emotions dictate your money decisions.

Thinking Fast and Slow by Daniel Kahneman is a great book that explains how our brains trick us into making bad money decisions.

Loss aversion is a key concept discussed in the book.

Loss aversion helps explain why we hold onto losing investments way longer than we should.

We feel the pain of losses more than the pleasure of gains, so we might make irrational decisions to avoid losses.

Losing $100 feels twice as bad as gaining $100.

And because the pain of losing something is stronger than the pleasure of gaining the same thing, this can lead to irrational decision-making.

The book also discusses the concept of attitude to risk, which is influenced by loss aversion.

We tend to be risk-averse when it comes to gains, but risk-seeking when it comes to losses.

This can lead to our holding onto losing stocks in the hope that they will bounce back, rather than selling them and realizing a loss.

I recommend this book to anyone looking to level up their mindset and psychology around money.

Do you think it's important to understand the psychological factors that influence our decision-making processes?