Tax collections increase by 22%
Apr 21, 2011
REVENUE collections increased to sh412.3b in March, up from sh371b roped in February, the Uganda Revenue Authority (URA) date showed on Wednesday. <br>The sh412.3b collected was against a monthly target of sh392.3b.
By DAVID MUGABE
REVENUE collections increased to sh412.3b in March, up from sh371b roped in February, the Uganda Revenue Authority (URA) date showed on Wednesday.
The sh412.3b collected was against a monthly target of sh392.3b.
The improvement was largely attributed to good performance against major tax heads.
The Government also finally remitted Pay As You Earn for February and March, which boosted collections
“All the major tax heads performed well except excise duty on exports.
“The monthly performance is attributed to increase in import volumes,†Paul Kyeyune, the URA publicist told a media briefing the their Nakawa-based head office on Monday.
However, the declining consumption due to a slowdown in economic activity affected VAT collections. VAT from the cement sector also registered a shortfall of sh2.91b in March 2011.
Overall VAT shortfalls were sh12.5b for March and sh107.2b for the cumulative period from July 2010 to March 2011.
The tax authority is also demanding a total of sh32.3b from the electricity sector accruing from non-payment by power generation companies.
Domestic taxes head realised sh220.8b against a target of sh209.7b, a surplus of sh11.13b. “This performance was 21.5% higher than what was recorded in March 2010 and 19.39% higher on a cumulative basis over the same period,†said Kyeyune.
In the same period, net revenue from international trade, hit a surplus of sh14.1b against a target of sh198.9b.
Kyeyune said compared to the same period last year, net international trade revenue increased by 25.9%.
On a cumulative basis, international trade posted a surplus of sh123.3 billion and growth of 23%.
“The biggest cumulative surpluses were recorded under import duty (sh57.3b) and VAT on imports (sh67.5b) but petroleum duty and excise duty underperformed by sh4.09 billion and sh26.5b, respectively.
Increased enforcement yielded positive results in hides and skins levy and valuation controls that improved revenue from vehicles.
REVENUE collections increased to sh412.3b in March, up from sh371b roped in February, the Uganda Revenue Authority (URA) date showed on Wednesday.
The sh412.3b collected was against a monthly target of sh392.3b.
The improvement was largely attributed to good performance against major tax heads.
The Government also finally remitted Pay As You Earn for February and March, which boosted collections
“All the major tax heads performed well except excise duty on exports.
“The monthly performance is attributed to increase in import volumes,†Paul Kyeyune, the URA publicist told a media briefing the their Nakawa-based head office on Monday.
However, the declining consumption due to a slowdown in economic activity affected VAT collections. VAT from the cement sector also registered a shortfall of sh2.91b in March 2011.
Overall VAT shortfalls were sh12.5b for March and sh107.2b for the cumulative period from July 2010 to March 2011.
The tax authority is also demanding a total of sh32.3b from the electricity sector accruing from non-payment by power generation companies.
Domestic taxes head realised sh220.8b against a target of sh209.7b, a surplus of sh11.13b. “This performance was 21.5% higher than what was recorded in March 2010 and 19.39% higher on a cumulative basis over the same period,†said Kyeyune.
In the same period, net revenue from international trade, hit a surplus of sh14.1b against a target of sh198.9b.
Kyeyune said compared to the same period last year, net international trade revenue increased by 25.9%.
On a cumulative basis, international trade posted a surplus of sh123.3 billion and growth of 23%.
“The biggest cumulative surpluses were recorded under import duty (sh57.3b) and VAT on imports (sh67.5b) but petroleum duty and excise duty underperformed by sh4.09 billion and sh26.5b, respectively.
Increased enforcement yielded positive results in hides and skins levy and valuation controls that improved revenue from vehicles.