Uganda’s revenue collection increased 7.3 per cent in the last six months of 2021 – rising by Shs690.6bn compared to the same period a year earlier.
The Uganda Revenue Authority said Wednesday revenue collections totalled Shs10.2 trillion ($2.9bn) in the second half of 2021, Shs900.8bn below the authority’s target. Collections by the URA were expected to grow 16.8 per cent from a year ago to Shs11.1tn.
The biggest contributor to the increase in revenue was international trade taxes, which rose 10.6 per cent from a year ago to Shs4.1tn, as well as indirect domestic taxes, up 6.4 per cent.
The authority said its revenue target for the first half of 2022 is Shs12.3tn, a figure that includes the accumulated deficit for the last six months of 2021. Collections in January 2022 amounted to Shs1.8tn against a target of Shs1.9tn.
URA’s collection target for the financial year ending June 2022 is Shs22.4tn, which is 16.1 per cent more than what was collected in the previous period. Collections by the tax authority accounted for over 90 per cent of government revenue in the 2020/2021 financial year.
