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URA Collects Shs1.37 Trillion In October, Registers Shs79bn Surplus

Uganda Revenue Authority (URA) collected gross revenue totaling to Shs1.37 trillion in October 2018 against a target of Shs1.29 trillion. This implies that the tax body registered an impressive gross surplus of Shs79.28bn.

According to information obtained from URA, net revenue collection for the month of October 2018 totaled to Shs1.34 trillion against a target of Shs1.27 trillion hence a net surplus of Shs73.37bn.

The cumulative net surplus for October was Shs200.5bn.
According to the tax body, gross collections from Domestic Taxes amounted to Shs766.37bn against a target of Shs710.45bn, registering a surplus of Shs55.9bn.

ALSO READ: Inside Akol’s Impressive Performance At URA, Future Plans

Direct Domestic Taxes (PAYE, Corporation Tax, Individual income tax, Withholding tax and Rental income tax) performed at 100.68% (surplus of Shs2.3bn), while Indirect domestic taxes performed at 116.37% registering a surplus of Shs51.6bn.

On the other hand, Non Tax Revenue Collections performed at 103.57%, registering a surplus of Shs2bn.

International trade taxes performed at 103.99% with gross collections of Shs609.35bn against a target of Shs585.9bn, registering a surplus of Shs23.36bn.

A comparison of net cumulative revenue performance as at October 2018 with that of October 2017 shows an absolute increase of Shs880.7bn, representing an increase of 21.09%.

Doris Akol (in featured photo), the URA Commissioner General, who started her second four-year term on at the tax body on November1, 2018, together with her team, has come up with several measures aimed at increasing tax compliance and revenue collections.

 

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Taddewo William Senyonyi
https://www.facebook.com/senyonyi.taddewo
William is a seasoned business and finance journalist. He is also an agripreneur and a coffee enthusiast.

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