By Fred Kajjubi
The Uganda Revenue Authority (URA) has announced that it has surparsed it’s revenue collection target of the first half of the 2024/2025 fiscal year with a surplus of Shs.322bn.
URA says the success has not come from harassing people’s businesses but from new strategies it has introduced in tax administration which to make it easier for people to pay taxes.
For the 2024/2025 fiscal year, URA was given a tax collection target of 31.369tn and planned to collect 14.926tn in the first half, and 16.444tn in the second half. However, the first tranche which started in July ended in December last year, registered 15.248tn collections which means they have got a surplus of Shs 322bn.
Speaking at a press conference at the URA headquarters in Nakawa, URA Commissioner John Rujoki Musinguzi hailed a significant revenue growth of UGX2.112tn compared to the first half of 2023/2024 fiscal year. This growth is unprecedented in five years for taxes to rise by 16%.
Domestic revenue accounted for 10.131tn while Customs duty accounted for 5.42tn.
Musinguzi thanked the citizens for their efforts to pay taxes last year and the government for creating a good environment that enables businesses to thrive.
URA says the success is not due to harassment of of businesses but due to new strategies that have enhanced tax administration.
The government policy on income tax waiver resulted into collection for principal tax of 262.98bn while the new tax payers added on the tax register yielded 59.01bn.
Musinguzi vowed that 2025 will be for eradicating corruption in the department and anyone involved in tax evasion will not leave a job. He also warned taxpayers that it is too late if they do not repent and turn away from bad practices.
URA also promised to support small businesses
