Wednesday, May 22, 2024
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URA Surpasses January Revenue Collection Target By Shs14 Billion

URA Commissioner General, John Musinguzi

Uganda Revenue Authority (URA) has exceeded her January 2023 revenue target by collecting UGX 2,093.2 billion over a target of UGX 2,078.52 billion, thus posting a surplus of UGX 14.68 billion.

The surplus has reduced the half-year revenue deficit from July to December 2022 for the 2022/23 Financial Year from UGX 94.6 billion to UGX 80 billion.

Domestic collections were UGX 1,359.5 billion, over the target of UGX 1,344.38 billion, posting a surplus of over UGX 14 billion. The tax heads that performed well to create the surplus include PAYE, Rental income tax and Casino tax which surpassed their targets.

International trade collections were UGX 775.62 billion, slightly lower than the projected target of UGX 775.78 billion. However, good performance was realised in import duty, VAT on imports, excise duty and temporary road licenses, which surpassed their targets.

Assistant Commissioner Public and Corporate Affairs, Ibrahim Bbossa said that the surplus was due to the fully open economy that is recovering from different challenges experienced during COVID19 and the Russia-Ukranian war, as well as the opening of the oil sector and the internal organisational changes aimed at improving client service delivery.

This financial year, URA is tasked to collect UGX 25,151.57 billion, which is 52.3% of the total national budget. While presenting the performance of the first half of this year recently, Commissioner General John Musinguzi was optimistic that URA would hit the target come June 2023.

Mr. Musinguzi highlighted some of the organisational measures that URA will deploy to enable it to realise the target as more tax education and sensitisation outreaches, the continued roll-out of technology and use of data in revenue collection, the skilling of staff, the implementation of performance management and integrity enhancements as well as stakeholder collaborations and engagements.

He launched a new client relationship management system (CRM) tool, which will help improve URA’s client dialogue, build a high-performing organisation and enhance accountability and integrity.

Mr. Musinguzi further urged all taxpayers, the media and critical economic players to join URA in mobilizing the remaining revenue for national development.

-The Taxman

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