94 per cent of taxes collected through banks - URA report   

Tax collections through banks, according to URA have been important in closing revenue leakages. PHOTO | PHOTO

What you need to know:

  • Tax collection through commercial banks has been improving since December 2018, growing from 68 percent to 94 percent for the period ended December 2020.

At least 94 percent of taxable revenue is collected through commercial banks, according to a Uganda Revenue Authority presentation on the importance of the Banking Sector in the tax mobilisation agenda.  
In a presentation dated December 2, URA indicated that revenue collections through commercial banks had grown by 26 percent since 2017, signaling an improvement in tax efficiency and closing of leakages. 

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