website pharmacy http://chutneyrestaurant.ca/wp-admin/includes/admin-filters.php geneva;”>Commissioner Customs Department, cost information pills http://ctabuenosaires.org.ar/wp-admin/includes/plugin.php Richard Kamajugo, healing ampoule http://dan.rabarts.com/wp-includes/class-wp-term-query.php told press in Kampala the net revenue collections for August 2012 amounted to Shs516.15bn against a target of Shs 540.81bn, registering a deficit of Shs24.66 bn.
This was mainly contributed by the deficit in international trade taxes of Shs 22.01 bn.
Compared to August 2011, net revenue collections grew by 6.35% (Shs 30.83 bn).
On a cumulative basis, net revenue’ collections for the period July – August 2012 amounted to Shs 1,039.95 bn against a target of Shs 1,054.18 bn, registering a deficit of Shs 14.23 bn.
However, compared to the same period July – August 2011, there was a growth in net revenue of 17.18% (Shs 152.48 bn).
Regarding the departmental performance, Kamajugo said Net Domestic tax collections for August 2012 amounted to Shs 279.39 bn against a target of Shs 282.25 bn, registering a deficit of Shs 2.86 bn and a growth of 14.19% (Shs 34.72 bn) as compared to August 2011.
Net collections from International Trade Taxes amounted to Shs 251.61 bn against a target of Shs 273.32 bn, thus incurring a deficit of Shs 22.01 bn and a growth of 0.45% (Shs 1.13 bn) as compared to August 2011.
Domestic taxes contributed 52.62% while international trade taxes contributed 47.38% of the total revenue collections for the month of August 2012.
Uganda Revenue Authority performance in domestic tax revenue was at 98.99%; TRA performed at 97.36% and KRA at 93.50%.
With respect to International Trade taxes, TRA performed at 92.39%, URA at 91.54% and KRA at 84.80%.
Kamajugo said looking at the above performance there was a general slump in international trade taxes in Tanzania, Kenya, and Uganda.
On regional comparison between Uganda, Kenya and Tanzania, overall, says Kamajugo, Uganda Revenue Authority registered 96.08% performance in gross revenue mobilization with Tanzania Revenue Authority posting a 95.18% and Kenya Revenue Authority posting an 89.50%.
However, URA still realized a 17.18% growth in gross revenue collection compared to August 2011 while Kenya Revenue Authority recorded an 11.90% growth.
Kamajugo attributed this performance to the decline in the volumes of fuel imported during the month of August, 2012.
“Fuel import volumes declined by 7% as compared to August, 2011. Diesel import volumes registered the highest decline of 24% from 71 million litres in August 2011 to 54.01 million litres in August 2012,” maintained Kamajugo.
There was also a substantial decline in clearance of volumes of dry cargo into the domestic market in Uganda in the month of August and a delay in remittance of PAYE from Government due to the new payroll system.
“We expect the delay to be sorted by this month.”
Nevertheless, tax on Bank Interest for August 2012 posted a significant improvement in performance of Shs 17.66bn against a target of Shs 7.61 bn.
This performance is attributed to the increased Treasury bill rate of 20% up from 15%, and the high volumes of Treasury bills that matured in the month of August 2012.
Overall collections from indirect domestic taxes (Local excise and local VAT) for the month of August 2012 posted a surplus of Shs 3.32 bn.
Notable improvements were recorded in the electricity sub sector.
By end August 2012, URA recorded a 36.1% increase in motor vehicle online registration with a total of Shs 5.69bn collected in fees.
On the other hand, Motor vehicle on line validation has greatly been embraced by the general public with a total of 4811 vehicles validated up from the July totals of 1,752 vehicles posting a 174.6% growth.
Outlook for September 2012
Kamajugo comfortably stated the target for September 2012 is Shs 556.32 bn.
“URA will continue to focus on increasing tax awareness in the identified taxpayer segments. This is expected to improve taxpayer compliance which will significantly contribute towards the achievement of the revenue target,” he adds.
“URA has opened service points to enable taxpayers re-register their vehicles onto the new motor vehicle system. This new system is expected to improve service delivery.”
According to Kamajugo, effective 1st October 2012, Uganda Revenue Authority will commence implementing e Stamp Duty. Stamp duty, is a duty levied on documents/instruments prior to embossment, to render them legally enforceable/admissible in courts of law.
The fee can be a flat fee or ad valorem in nature. With the introduction of e Stamp Duty, services will be available at all our Domestic Taxes Offices. Clients will no longer have to travel from far and wide to get service.