URA Sept collections decline
Oct 15, 2006
THE Uganda Revenue Authority (URA) September collections slumped due to poor performance of withholding and corporation taxes.<br>
By Peter Kaujju
THE Uganda Revenue Authority (URA) September collections slumped due to poor performance of withholding and corporation taxes.
The URA monthly performance report blames the shortfall on overestimation of taxes and delayed government releases.
The September net collections amounted to sh196.1b against a sh204.8b target, resulting into a sh8.6b deficit.
Income taxes registered a deficit of sh4b of which sh3.6b and sh1.9b was registered under corporation and withholding taxes respectively.
However, overall, the September revenue went up by 12.55% compared to the same period last year.
Patrick Mukiibi, URA’s assistant commissioner corporate and public affairs, said there was a seasonality planning problem where the tax body overestimated the collections.
and the delayed government releases.
Trade taxes posted a surplus of sh0.43b but the major tax heads remained fuel tax, import duty, VAT on imports and excise duty.
Mukiibi said the energy crisis which has dogged the country since early this year, also continued to affect domestic taxes.
URA projected October’s collections just above September’s at sh197.5b.
Ends
THE Uganda Revenue Authority (URA) September collections slumped due to poor performance of withholding and corporation taxes.
The URA monthly performance report blames the shortfall on overestimation of taxes and delayed government releases.
The September net collections amounted to sh196.1b against a sh204.8b target, resulting into a sh8.6b deficit.
Income taxes registered a deficit of sh4b of which sh3.6b and sh1.9b was registered under corporation and withholding taxes respectively.
However, overall, the September revenue went up by 12.55% compared to the same period last year.
Patrick Mukiibi, URA’s assistant commissioner corporate and public affairs, said there was a seasonality planning problem where the tax body overestimated the collections.
and the delayed government releases.
Trade taxes posted a surplus of sh0.43b but the major tax heads remained fuel tax, import duty, VAT on imports and excise duty.
Mukiibi said the energy crisis which has dogged the country since early this year, also continued to affect domestic taxes.
URA projected October’s collections just above September’s at sh197.5b.
Ends