URA Misses Shs11.7 Trillion Revenue Target By Shs94 Billion
The Uganda Revenue Authority has fallen short of its revenue collection target by 94 billion shillings for the first half of the 2022/2023 financial year.
The revelation was made by the URA Commissioner General, John Musinguzi Rujoki, who addressed journalists at the URA Towers in Nakawa, Kampala. He attributed the shortfall to some tax heads like petroleum which saw sharp price rises in the last few months.
Addressing journalists at the URA Tower, URA Commissioner General John Rujoki Musinguzi outlined the revenue performance for the first half of this financial year – July 2022 - December 2022, boasting of a 99.2% performance towards hitting its Shs25.5 trillion annual revenue target.
Despite this impressive performance which accounts for 46.4% of the annual target, the commissioner General cited a few short falls in the revenue collection.
Rujoki also highlighted the top five sectors of the economy that are currently URA’s backbone in tax collection and revenue realization
This means that many of the other sectors of the economy like the petroleum sector have not performed well. One would wonder, what informs the poor tax collection in some of these sectors
With this, we engaged Rujoki on what URA intends to do in the remaining six months left to end the 2022/2023 to hit the over 25 trillion shilling target.
The national budget this financial year is 49 trillion shillings 990 billion of which URA is meant to finance by 50% through revenue collections.
