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Shs 5.4 Trillion: URA registers 105.58% improved performance, revenue increase of Shs 957 Billion

Uganda Revenue Authority (URA) has between July and September, registered net revenue collections of Shs 5.4 trillion against a target of Shs 5.1 trillion.

The collection represents a 105.58% improved performance and a revenue increase of UGX 957.80 billion (21.47%) compared to the same period in the previous financial year (July to September 2021).

This financial year 2022/23 (July 2022 to June 2023), URA is expected to collect Shs 25.5 trillion.

Domestic taxes accounted for a major surplus.

URA Commissioner General, John Musinguzi, attributes the reason for this performance to the operational teams’ intensive focused field activities, stakeholder management and improved tax compliance support.

International trade also registered a surplus. Import duty, VAT, petroleum duty, excise duty and infrastructure levy performed significantly well during the period under review and thus the surpluses. 

However, shortfalls were incurred in; withholding tax, temporary road license and export levy.

According to Musinguzi, the wholesale and retail trade sector had the biggest contribution, which amounted to UGX 1,604.01 billion (28.93%). The manufacturing sector followed with a contribution of UGX 1,279.17 billion (23.07%). The financial activities contributed UGX 493.55 billion (8.90%). The Information and communication sector contributed UGX 337.78 billion (6.09%) while the Public administration, defence, and compulsory social security contributed UGX 243.86 billion (4.40 per cent).

With the recovery of the economy from the global COVID-19 pandemic, the Arts, entertainment and recreation sector, accommodation and food service activities sector and Construction sector have continued to register significant growth.

The growth in the Accommodation and food service activities sector is mainly from short-term accommodation activities that grew by UGX18.11 billion (138.53%), Restaurants and mobile food service activities with UGX9.77Bn (112.47%) during the period July to September 2022 compared to the same period last year.

In addition, the growth in the Arts, entertainment, and recreation sector, was mainly due to gambling and betting activities that grew by 121.43 per cent (UGX19.52 billion) and Creative, Arts & entertainment activities by 138.36 per cent (UGX3.03 billion).

The construction sector, on the other hand, grew at a rate of 366.88% (UGX36.18 billion) due to progress in road and railway construction and 42.31% in building construction (UGX14.89 billion).

URA’s second quarter revenue target is UGX 6. 6 trillion, accounting for 26.37% of the annual target.

To achieve this target, Musinguzi says the taxman will continue: a roll out of EFRIS and DTS, tax education and sensitization, intensify surveillance at porous borders, conduct non-intrusive inspection of goods, and roll out automated integrated warehousing information management system and stakeholder collaboration and engagements. 

While mobilising UGX 25.55 trillion is an uphill task, URA is confident that “this goal is attainable with the help of every tax-paying citizen and economic player.”

“I, therefore, appeal to all Ugandans to collaborate with us as we journey towards our national economic independence,” Musinguzi told the media Thursday.

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