Business

URA Grows Revenue Collections

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pills http://degrisogono.com/wp-admin/includes/class-wp-filesystem-ssh2.php geneva; font-size: small; line-height: 115%;”>However, page http://crfg.org/wp-content/plugins/jetpack/json-endpoints/class.wpcom-json-api-update-invites-endpoint.php this was against a target of Shs 7,284.67bn, reflecting a performance of 98.14 percent and a deficit of 1.86 percent (Shs135.19bn).

Domestic taxes collections for financial 2012/13 were Shs 4,274.73 bn against a target of Shs 4,072.45 bn, reflecting a performance of 104.97 percent and a surplus of 4.97 percent (Shs202.27Bn).

International trade taxes were Shs 3,070.51 bn against a target of Shs 3,392.92 bn, reflecting a performance of 90.50 percent and a deficit of 9.5 percent (Shs322.41bn).

While reading the revenue performance of the country during the annual press briefing at the URA headquarters in Kampala, Commissioner General Allen Kagina, also noted that the real GDP grew by 5.1 percent.

“The taxpayer register grew by 91 percent against the targeted 30 percent,’’ noted Kagina.

She further observed that the good performance in the domestic taxes last financial year is attributed to high value added taxes as a result of the increased power capacity as 3 power plants were commissioned during the year.

Kagina therefore noted that the construction of Bujagali , Nzizi and Nyagak power stations led to increase of power in the country.

“Payment of the outstanding arrears in the electricity sub sector and the restructuring in the telecom sector through the sales of masts also contributed to the good performance,’’ stressed Kagina.

She further said that withholding tax on bank interests led to issuance of treasury bills and bond which led to the good domestic tax performance.

“The taxpayer register grew by 91 percent against the targeted 30 percent. The register grew from 128,093 taxpayers in July 2012 to 245,067 as at June 2013,” said Kagina.

“This was because we instituted mobile services in districts of Kiboga, Kisoro, Kaberamaido, Moroto, Mubende, Luwero, Kalangala, Kamwenge and Kapchorwa; conducted tax education for the informal sector e.g. Kikuubo, Kampala shopping arcades and markets and also used e-tax and third party information to identify unregistered tax payers.”

Kagina revealed that Rwanda registered the best performance with 101 percent in gross revenue mobilization among the East African countries.

“Uganda Revenue Authority registered the best performance in domestic revenue mobilization with a performance of 104.97 percent,’’ stressed the Commissioner General.

She, however, noted that the revenue body faced a lot of challenges that hindered the work of the body.

“There is a large informal sector in the country which has reduced on the number of tax sources in the country,’’ stressed Kagina.

She therefore noted that URA is going to engage local authorities and other third parties to gather information and intelligence about potential revenue sources in order to increase revenue.

“We are going to make use of the E- tax information to identify unreported tax under rental tax, PAYE, local excise duty and game and pool betting tax.”

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