Wednesday, October 28, 2020

Uganda’s Gold Sector Losing Millions Through Illicit Trade

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According to the government’s audit report for the financial year 2016/17, the country lost over U.S. $16.95 million in undeclared royalties in the exportation and importation of gold in 2016/2017. A number of the companies including Africa Gold Refinery are under investigation on claims of money laundering, under-declaring, tax evasion and flouting registration.

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