URA tasked to increase revenue to Shs34 trillion

Doris Akol, URA commissioner general said the tax body is still studying the transaction. FILE Photo

What you need to know:

  • Currently, URA’s revenue collections are at 12.78 per cent, the lowest in the region. This is also lower than the regional sub-Saharan Africa average of 18 per cent.
  • At the end of the last financial year, the rate of revenue growth rate after 25 years stood at 8.295 per cent while year-on-year revenue growth currently stands at 15 per cent.

Kampala. President Museveni has asked Uganda Revenue Authority (URA) to increase the tax to GDP ratio to at least 20 per cent by 2020. This means the tax body would have to increase its collections from Shs11.2 trillion to Shs34 trillion.
Currently, URA’s revenue collections are at 12.78 per cent, the lowest in the region. This is also lower than the regional sub-Saharan Africa average of 18 per cent.
Mr Museveni challenged URA to tap into the informal sector to widen the tax base. He also said they would convert the 68 per cent households involved in subsistence farming to commercial farming as a way of broadening the tax base.

Welcome!

You're all set to enjoy unlimited Prime content.