URA Commissioner General, John R. Musinguzi
The Uganda Revenue Authority (URA) collected taxes to a tune of Shs3.725Trn in June 2023 of which Shs3.645Trn and Shs80.49Bn were tax revenue and non-tax revenue respectively.
This meant the tax body registered overall surplus of Shs489.82Bn the Authority had projected to collect.
According to Ministry of Finance’s Performance of Economy Report for June 2023, the performance was partly attributed to higher than planned domestic revenue collections where tax revenue registered a surplus of Shshs722.58 billion. However, non-tax revenue registered a shortfall of Shs127.65 which was below the target of Shs198.46Bn and this shortfall was registered in grants mainly due to zero disbursements from the Global Fund.
However, the Performance of Economy Report for June 2023 also indicated that despite Government collecting taxes to a tune of Shs3.7Trn, its expenditure out stripped revenue collections with preliminary data showing that government spending in June 2023 amounted to Shs3.974Trn, reflecting a 99.1 percent performance rate for the month.
The report highlighted that current expenditure amounted to Shs2.719Trn against the target of Shs2.405Trn while Development expenditure amounted to Shs1.194Trn against the planned of Shs1.499Trn.
The report also revealed that outstanding loans from financial institutions to Private Sector continued to increase to Shs20.529Trn in May 2023 from Shs20.464Trn in April 2023. Of the total stock, Shs14.162Trn was shilling denominated credit while Shs6.367Trn was forex denominated credit.
