URA registers Shs127b surplus in first quarter

Kampala. Uganda Revenue Authority (URA) has registered a net revenue collection of Shs3.7 trilion for the quarter ended September.

According to data from URA, the tax collector surpassed its target by Shs127.1b on account of surpluses in domestic and international taxes.

“The net revenue collections were Shs3.7 trillion, a performance of 103.5 per cent. This performance was Shs127.1b above target, with a growth rate of 17.8 per cent registered compared to the same period in the last financial year,” a statement from URA reads in part.

In the same period last year, URA collected Shs3.1 trillion.
The tax collector registered a surplus of Shs88.8b in domestic tax collections and Shs46.6b in international trade collections, which worked well to cover deficits elsewhere.

Domestic taxes registered gross revenue collection of Shs2.1 trillion for the period running from July to September.
However, September, according to Mr Ian Rumanyika, the URA public and corporate affairs manager, registered increased collections, registering a cumulative domestic taxes surplus of Shs88.82b.

URA is seeking to raise Shs16 trillion in the 2018/19 financial year in a move that saw the introduction of new tax measures.
Mr Rumanyika attributed the good September performance to festive preparations that tend to come with increased imports and goods stock-ups.

At least Shs1 trillion was collected in direct domestic taxes, making a Shs40.89b above target for the period under review.
Other surpluses were registered in Pay As You Earn (Shs39.68b), Corporation Tax (Shs6.5b), Rental Income Tax (Shs1.06b), Treasury Bills (Shs14.97b) and other Income Taxes (Shs0.38b).

URA also exceeded its target in indirect taxes with a revenue collection of Shs923.7b against a target of Shs901.64b.
Mr Rumanyika also noted surpluses in VAT on imports of Shs18.02b, Import Duty of Shs10.24b and Petroleum Duty of Shs9.69b.

Surcharge on imports registered a surplus of Shs4.46b while Infrastructure Levy, Withholding Taxes, Export Levy and Temporary Road Licence, registered surpluses of Shs4.28b, Shs2.99b, Shs2.10b and Shs1.82b, respectively. The performance in international trade was attributed to growth in imports and policy changes, especially in the petroleum sector.

New taxes

During the period, there were 45,122 new taxpayers added to the tax register of which 4,209 were non-individual and 40,913 individual, who contributed Shs2.74b to national revenue purse.
Effective enforcement measures also supported the collections surplus. At least 2,192 seizure notices of which 1,717 were for dutiable goods and 475 for non-dutiable were registered. The intervention led to the recovery of Shs16.04b against a target of Shs15.71b.

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