By Davis Mugabi

The Ministry of Finance, Planning and Economic Development has set Shs 23 trillion as a new revenue collection target for Uganda Revenue Authority (URA) for the Financial Year 2022/2023.

This is in comparison to Shs 22 trillion target in the FY 2021/2022.

Patrick Ocailap, the Deputy Secretary to the Treasury confirmed the target Thursday during a post budget conference convened by Absa Bank Uganda at Sheraton Hotel in Kampala.

According to Ocailap, this is 59% of “our budget.”

By the close of Quarter III, URA had collected slightly under Shs 16 trillion for the current FY. However, the hope was that by the time the FY closes, the taxman will have collected slightly above Shs 20 trillion.

This news site however understands that the URA has set its own target at Shs 25 trillion.