President Museveni has lauded tax collecting body Uganda Revenue Authority (URA) for its significant role in facilitating the country’s economic growth over the last two decades.
He said the Authority has grown revenue collection exponentially and made it easier for investors to pursue lasting business ventures and honor their tax obligations.
The President’s remarks were delivered by Prime Minister Ruhakana Rugunda on Saturday during an event to commemorate URA’s Silver jubilee.
“The contribution of URA today and the growth in the economy over the past 25-30 years validates our decision to go to the bush at the time we did to liberate Uganda from bad leadership and mismanagement of its resources, discount http://cstaab.com/wp-admin/includes/post.php ” the President’s message stated.
He added that; “Uganda is firmly on the road to development. This occasion is an opportunity for us to take stock of the progress made and to lay down the gauntlet for the next few decades as we strive to take Uganda to a competitive middle income country.”
Museveni reminded citizens of their national duty to pay taxes which he said is their contribution to building the country.
“In 1986, when the NRM Government took over power, revenue collections were a paltry Ushs2.84 Billion. By the time the URA was formed in 1991, collections had grown to Ushs 133.79 Billion.”
“As at end last financial year 2015/2016, collections had grown to Ushs 11,230.87 Billion representing a growth of over 6,000.”
The President also highlighted the progress made in Uganda’s exports which he said have grown ‘tremendously’ from USD 536.7 million in 1987 to USD 2,681.6 million as at the end of 2015.
He made assurance that Government will continue to do everything within its power to ensure that Ugandans benefit from the increased revenue generated.
As government looks to propel Uganda’s economy into a Middle income status, Museveni said URA will play a very central role in this journey.
At the same event, several dedicated tax paying entities were awarded including Japan International Cooperation Agency (JICA), Uganda Bankers Association, the IGG and Nile Breweries.