{"id":7108,"date":"2022-10-30T14:52:54","date_gmt":"2022-10-30T14:52:54","guid":{"rendered":"https:\/\/ugandaupdatenews.com\/?p=7108"},"modified":"2022-10-30T14:53:02","modified_gmt":"2022-10-30T14:53:02","slug":"ura-hits-tax-revenue-target-collects-shs-5-4-trillion-in-the-first-quarter","status":"publish","type":"post","link":"https:\/\/prowebinhost.com\/anzu\/ura-hits-tax-revenue-target-collects-shs-5-4-trillion-in-the-first-quarter\/","title":{"rendered":"URA HITS TAX REVENUE TARGET, COLLECTS SHS.5.4 TRILLION IN THE FIRST QUARTER"},"content":{"rendered":"\n

By Our Seniour Reporter<\/strong><\/p>\n\n\n\n

Uganda Revenue Authority (URA) under the stewardship of Commissioner General John Musinguzi have collected a record -Ug.Shs. 5.4 trillion in the period July to September 2022, which is a 105.58%  off their set target of  Ug.Shs.5.1 trillion.<\/p>\n\n\n\n

The\u00a0 latest revenue collection figures in an economy -which is just recovering from more than two years of Covid -19 battering ,show a marked improvement in performance. The tax body has managed to increase the revenue collection by \u00a0Ug.Shs. 957.80 billion -about \u00a0(21.47%) compared to the same period in the previous financial year -July to September 2021.<\/p>\n\n\n\n

URA Commissioner General, John Musinguzi, said the improvement in tax revenue collection was a result of\u00a0 URA teams’ friendly but intensive interactions with the tax payers , overall- good \u00a0stakeholder management and improved tax compliance support.<\/p>\n\n\n\n

Musinguzi explained that the wholesale and retail trade sector had the biggest contribution, of UgShs.1,604.01 billion (28.93%)  followed by the  manufacturing sector at  Ug.Shs. 1,279.17 billion (23.07%).<\/p>\n\n\n\n

The financial activities registered a tax revenue portfolio of  Ug.Shs. 493.55 billion (8.90%); the Information and communication sector contributed Ug.Shs 337.78 billion (6.09%) and the  public administration, defence, and compulsory social security contributed UGX 243.86 billion (4.40%).<\/p>\n\n\n\n

Among other sectors that posted fairly good  tax returns  included international trade ;import duty, VAT, petroleum duty, excise duty and infrastructure levy . Musinguzi ,  however , said that there  shortfalls registered  in withholding tax, temporary road license and export levy.<\/p>\n\n\n\n

Now that Covid -19 is behind us there has been continued growth in the  Arts, entertainment and recreation sector, accommodation and food service sector and construction sector .<\/p>\n\n\n\n

According to URA  accommodation and food service activities sector grew by UGX18.11 billion (138.53%), restaurants and mobile food service activities with UGX9.77Bn (112.47%) during the period under review .<\/p>\n\n\n\n

The gambling and betting activities  grew by 121.43 % raising Ug.Shs.19.52 billion  and  entertainment activities by 138.36% contributing Ug.Shs3.03 billion in taxes. The construction sector grew by 366.88%  brining in Ug.Shs.36.18 billion ( road and railway construction) and 42.31% in building construction that stood at Ug.Shs.14.89 billion.<\/p>\n\n\n\n

Musinguzi said that URA is expected to collect another estimated Ug.Shs.6.6 Trillion in the second quarter ending  December 2022 and to achieve that target he said the tax body will roll out – EFRIS and DTS  tax education and sensitization.<\/p>\n\n\n\n

URA will also  intensify surveillance at porous borders, conduct non-intrusive inspection of goods, and roll out automated integrated warehousing information management system and stakeholder collaboration and engagements. <\/p>\n\n\n\n

\u201cWhile mobilising UGX 25.55 trillion is an uphill task, URA is confident that this goal is attainable with the help of every tax-paying citizen and economic player. \u201cI, therefore, appeal to all Ugandans to collaborate with us as we journey towards our national economic independence,\u201d Musinguzi  stated while releasing URA\u2019s quarterly tax revenue collection performance report .<\/p>\n\n\n\n

This financial year 2022\/23 (July 2022 to June 2023), URA is expected to collect Shs 25.5 trillion to partly finance Uganda\u2019s \u00a0Ug.Shs.37.472 trillion budget for the financial year 2022\/23.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Our Seniour Reporter Uganda Revenue Authority (URA) under the stewardship of Commissioner General John Musinguzi have collected a record<\/p>\n","protected":false},"author":1,"featured_media":7109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[236],"tags":[],"class_list":["post-7108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-revenue"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/10\/URA-CG-John-Musinguzi-while-addresing-the-media.png","jetpack-related-posts":[{"id":5623,"url":"https:\/\/prowebinhost.com\/anzu\/ura-collects-shs-15-trillion-says-they-shall-hot-the-shs-22-trillion-target\/","url_meta":{"origin":7108,"position":0},"title":"URA Collects Shs 15 Trillion says they shall hit the Shs 22 Trillion Target","author":"UgandaUpdate","date":"May 12, 2022","format":false,"excerpt":"Uganda Revenue Authority (URA) has released new tax revenue collection figures showing that during the period July to March, they have collected and remitted to the national treasury UGX 15,466.68 billion representing 69.16% of the annual target. 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