By Samuel Mwesigye
Uganda Revenue Authority – URA – has failed to hit its revenue collection target for the half year period July and December 2022.
The taxman was meant to collect Shs 11. 764 trillion. However, it only managed Shs 11. 67 trillion (46.4% of annual target).
Data shows that Domestic Revenue contributed Shs 7.470 trillion while Customs managed Shs 4.453 trillion. Further, data shows that wholesale and retail sales contributed Shs 3.3 trillion while manufacturing and financial services contributed Shs 2.6 trillion and Shs 1.225 trillion respectively.
While there was a shortfall, the collection grew by Shs 1.506 (14.83%) compared to the same period last year.
URA is expected to collect Shs 25.151 trillion in this Financial Year (FY).
The taxman is now expected to collect Shs 13.386 trillion (53% of the revenue target) between January and June 2023.
“We are confident that we will achieve this target,” URA Commissioner General, John R. Musinguzi told the media in Kampala on Tuesday.
URA’s annual target is against the national budget of about Shs 49 trillion.