URA Commissioner General, John Musinguzi, addressing the media at the Authority’s headquarters in Kampala on Friday afternoon.
The Uganda Revenue Authority (URA) has announced the largest revenue collection since its inception 30 years ago.
URA Commissioner General, John Musinguzi, revealed that the tax body collected Shs 21.5 trillion in Financial Year 2021/2022 in comparison to Shs 19 trillion collected in the FY 2020/2021.
Figures show that Domestic Taxes contributed Shs 13.6 trillion while Customs managed above Shs 8 trillion.
Addressing the press at URA headquarters in Nakawa, Musinguzi attributed the increase in revenue collection to tax education, Alternative Dispute Resolution, enforcement operations, widening of the tax register and improvement of arrears management among others.
The collection is, however, against a target of Shs 22.63 trillion. This means that the taxman recorded a shortfall of Shs 300 billion or thereabout (given that the government is yet to pay nearly Shs 400 billion in taxes). In total, however, the shortfall was Shs 704 billion.
URA’s 2022/2023 target, according to the Ministry of Finance, Planning and Economic Development, is Shs 25.15 trillion (Shs 3.5 trillion increase from last year’s).
Musinguzi says that the target is attainable.
More details coming…
