URA collects Shs 4.5 trillion in first quarter of financial year

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The Commissioner General (CG) of the Uganda Revenue Authority (URA) John Musinguzi has revealed that the tax body collected net revenue of Shs 4.5 trillion in the first quarter of 2021/22 financial year.

The growth in revenue is attributed to URA’ administrative initiatives like arrears management which resulted in a revenue recovery of Shs 322.63 Billion. Having achieved 14.99% growth in revenue collection URA is expected to collect Shs 22.3 trillion in the FY 2021/22. The projection is Shs 3.1 trillion over and above last year’s revenue collections.

Speaking at URA Headquarters, Musinguzi said the domestic revenue collections stood at Shs 2.6 trillion and hence registering a growth of 8.11 percent (Shs 199.10 billion) compared to last financial year.

“URA will continue to implement domestic revenue mobilization strategies like; upgrading e-tax system to accommodate task at nation level, upgrading the URA data center, procurement of scanners, electronic cargo and driver trucking systems (RECDTS).”

At least 74% of the revenue was generated from the top five sectors during the first quarter of FY 2021/22. The wholesale and retail trade sector had the biggest contribution, which amounted to Shs 1.4 trillion.

He said over 65,666 new taxpayers were added to the taxpayer register in the first quarter of the financial year. By the end of September 2021, the taxpayer register had a total of 1,849,159 taxpayers.

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