Impact of harmful tax incentives and exemptions in Uganda

"All evidence suggest that the societal costs of tax exempltions are high and that the benefits, in terms of additional investments are low. Accordingly, tax specialists , CSOs and development partners including the International Monetary Fund and World Bank have continuously warned African government about tax exemptions. Despite these warnings, the practice of granting exemptions continues across all African governments. In Uganda, on average, over a trillion Uganda shillings is lost every year in tax exemptions."--Page 5