URA registers exponential revenue growth

Jun 25, 2019

Akol pointed out the manufacturing, construction, energy, and water as some of the sectors that have experienced exponential growth and greatly boosted revenue collections.

BUDGET   TAXATION   REVENUE 

KAMPALA - The Uganda Revenue Authority (URA) commissioner General Doris Akol has revealed that Uganda's revenue collection has greatly improved from sh15trillion in the 2017/2018 financial year to sh16.8trillion in the 2018/2019 financial year.

Akol made provided the information during the central region budget conference that was convened Tuesday at Hotel Africana.

After a long period without a revenue collection surplus, URA will register a surplus of over sh200b in 2018/2019 by achieving a collection of sh17trillion which is way above the sh16.4trillion target it had been given.

Akol pointed out the manufacturing, construction, energy, and water as some of the sectors that have experienced exponential growth and greatly boosted revenue collections.

According to Akol, revenue collection from the manufacturing sector increased from sh166b in 2018/2019 from sh143b in 2017/2018. Revenue collection from the construction sector has increased from sh30b in the previous year to sh60.5b and in the electricity, gas and water supply, revenue collection has increased from sh10.8b to sh28.9b.

In the forthcoming financial year, which starts next month, the government plans to have a total revenue collection of sh20trillion.

More of the extra revenue collection is expected to be generated from an increment in the import duty for imported products.

 

 

 

 

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