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Forex Trading Tax in Uganda: URA Rates From July 2026
From 1 July 2026, URA's resident rates start at nil on the first UGX 335,000 a month and rise to 30%, plus 10% on high incomes. Here is how forex profits fit, worked estimates and the records to keep.
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Ugandan tax residents are taxed on income from all sources, and profits from forex trading with a broker abroad generally form part of that income. From 1 July 2026, under the Income Tax (Amendment) Act, 2026, the Uganda Revenue Authority's rates for resident individuals start at nil on the first UGX 335,000 a month (UGX 4,020,000 a year), rise through 20% and 25% to 30%, and add a further 10% on income above UGX 10 million a month (UGX 120 million a year).
We found no URA guidance written specifically for retail forex or CFD trading. Regular, organised trading for profit may be treated as business income; occasional trading may be treated differently. Ask a tax adviser how your activity should be reported. This guide sets out the current rates, worked estimates and a filing routine.
| Who pays | Resident individuals, on income from all sources |
|---|---|
| Rates from 1 Jul 2026 | Nil, 20%, 25%, 30%, plus 10% on high incomes |
| Tax-free slice | UGX 335,000 a month (UGX 4,020,000 a year) |
| Year of income | 1 July to 30 June |
| Specific CFD guidance | None found from URA |
URA's rates for resident individuals
| Monthly chargeable income (UGX) | Tax |
|---|---|
| 0 to 335,000 | Nil |
| 335,001 to 410,000 | 20% of the amount over 335,000 |
| 410,001 to 485,000 | 15,000 + 25% of the amount over 410,000 |
| 485,001 to 10,000,000 | 33,750 + 30% of the amount over 485,000 |
| Above 10,000,000 | As above, plus 10% of the amount over 10,000,000 |
URA published this table for resident individuals with effect from 1 July 2026. In yearly terms, the thresholds are UGX 4,020,000, 4,920,000, 5,820,000 and 120,000,000. Older guides that show a nil band of UGX 235,000 a month are out of date for the 2026/27 year.
What you might owe: worked estimates
The chart applies the annual equivalents of URA's 2026 resident rates to different totals of chargeable income, assuming it is the person's only income. Employed traders already use the lower bands through PAYE, so their trading profit is taxed at their top rate.
For example, chargeable income of UGX 24 million in a year would carry tax of about UGX 5,859,000, an average of about 24.4%. At UGX 150 million the extra 10% applies to the slice above UGX 120 million, and tax would be about UGX 46,659,000.
Who counts as a Ugandan tax resident?
Taxation of income from all sources applies to residents. Under Uganda's Income Tax Act, an individual is broadly resident for a year of income if they have a permanent home in Uganda, are present for 183 days or more in any 12-month period that begins or ends in the year, or are present for an average of more than 122 days a year over the year and the two years before it, among other tests. Non-residents are taxed only on income from Uganda. If you live part of the year abroad, check the tests with an adviser and keep travel records.
Residence also decides which rate table applies: URA's 2026 table above is for resident individuals. Non-residents have a different schedule without the nil band.
How trading profits fit
URA's guidance on business income explains that individuals in business are taxed on their profits at the individual rates. If your trading is regular, organised and aimed at profit, it may be treated as a business, with allowable expenses deducted. Gains from occasional dealings may be treated differently. Because no URA guidance covers retail CFDs directly, get advice before you file, and keep records that would support either treatment.
Filing routine
- Register for a TIN with URA if you do not already have one.
- Collect broker statements covering 1 July to 30 June, plus platform trade history.
- Record every mobile money and bank transfer to and from brokers.
- Convert dollar figures to shillings using one consistent method, such as the Bank of Uganda rate on each transaction date, and keep the source.
- Declare the profit in your return as your adviser directs, with salary and any other income.
Records to keep
- Monthly and annual broker statements.
- Mobile money and bank statements showing deposits and withdrawals.
- Exchange rates used and their source.
- MT4, MT5 or platform trade history exports.
- Receipts for costs you plan to deduct, such as data or software, if your adviser accepts them.
A trader in Kampala earns a salary taxed under PAYE and, in the year to June 2027, makes a net trading profit of UGX 12 million with a broker abroad. His salary already uses the nil, 20% and 25% bands, so the trading profit is likely to be taxed at 30% if added to his income, about UGX 3.6 million. He keeps his statements and mobile money records and asks an adviser whether to report it as business income before filing.
Losses
Losses reduce the year's trading profit. Whether a loss can be carried forward or set against other income depends on how the activity is classified. Keep full records of losing years, and file a return even when the result is a loss.
Common mistakes
- Using the old UGX 235,000 monthly threshold after 1 July 2026.
- Declaring only withdrawals instead of the year's net trading result.
- Mixing personal and trading transfers on one mobile money line without notes.
- Assuming profits with offshore brokers do not need to be declared.
Choosing a broker from Uganda
Tax is only one part of the picture. Ugandan traders mostly use international brokers, so the broker's home regulator is the main protection. Check the licence on the regulator's own register, and see how much you need to start in our guide to how much money you need to start forex trading.
Set aside 30% of each month's net trading profit in a separate account if you are already in the top band, so the tax bill never comes out of your trading capital.
Advice on social media that forex profits are not taxable in Uganda is unreliable. Speak to a qualified tax adviser.
This is general information from official sources, not legal or tax advice. Rules change; check the tax authority's current guidance, or speak to a qualified adviser, before acting.
Cite this guide
FX Recap, "Forex Trading Tax in Uganda: URA Rates From July 2026", updated 1 November 2026, https://fxrecap.com/top-broker/in-south-africa/forex-trading-tax-uganda
Free to quote with a link. Journalists: data and comment in our press room.
Frequently asked
Is forex trading taxed in Uganda?
Generally yes. Resident individuals are taxed on income from all sources, and trading profits usually form part of it. URA has not published guidance specific to retail CFD trading, so ask an adviser how to classify yours.
What are Uganda's income tax rates from July 2026?
For resident individuals: nil on the first UGX 335,000 a month, 20% to 410,000, 25% to 485,000, 30% above that, plus an extra 10% on income above UGX 10 million a month.
How much tax would I pay on UGX 24 million of trading profit?
About UGX 5,859,000 for the year under the 2026 resident rates if it were your only income. If you also earn a salary, the trading profit would be taxed at your top rate.
Do I pay tax on profits from an offshore broker in Uganda?
If you are a Ugandan tax resident, yes in principle: residents are taxed on income from all sources, including abroad.
What is Uganda's tax year?
The year of income runs from 1 July to 30 June. Check URA's tax calendar for the return deadline.
Official sources: URA: PAYE rates under the Income Tax (Amendment) Act, 2026 · URA: Business income
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