Revenue collections exceed target by sh4.3b
Dec 24, 2007
THE Uganda Revenue Authority (URA) registered a net collection of sh240.9b in November, surpassing the targeted sh4.3b on the back of good performance of many tax lines.
By Peter Kaujju
THE Uganda Revenue Authority (URA) registered a net collection of sh240.9b in November, surpassing the targeted sh4.3b on the back of good performance of many tax lines.
A monthly report rated the growth performance 18.39% above the November 2006 collections.
On a cumulative basis, the net collections stood at sh1,155.86b against a target of sh1,126b, creating a surplus of sh29.6b.
“The gross trade taxes performed above forecast, registering a performance of 104.20% and a surplus of sh6b. The good performance was attributed to surpluses of sh3.75b, sh0.95b and sh0.78b recorded under Value Added Tax (VAT) on imports, import duty and excise duty on imports respectively. Surcharge on used imports collections amounted to sh1.28b,†read the report.
The gross domestic taxes, however, posted a sh9.3b shortfall, with a collection of sh101.3b against a target of sh110.7b due to under- performance of direct domestic taxes.
THE Uganda Revenue Authority (URA) registered a net collection of sh240.9b in November, surpassing the targeted sh4.3b on the back of good performance of many tax lines.
A monthly report rated the growth performance 18.39% above the November 2006 collections.
On a cumulative basis, the net collections stood at sh1,155.86b against a target of sh1,126b, creating a surplus of sh29.6b.
“The gross trade taxes performed above forecast, registering a performance of 104.20% and a surplus of sh6b. The good performance was attributed to surpluses of sh3.75b, sh0.95b and sh0.78b recorded under Value Added Tax (VAT) on imports, import duty and excise duty on imports respectively. Surcharge on used imports collections amounted to sh1.28b,†read the report.
The gross domestic taxes, however, posted a sh9.3b shortfall, with a collection of sh101.3b against a target of sh110.7b due to under- performance of direct domestic taxes.