URA misses revenue target by Shs94 billion

With five months to closing its revenue collection account for this financial year 2022/2023, Uganda Revenue Authority (URA) has boasted of posting a 99.2% performance towards hitting its Shs25.5 trillion annual revenue target.

Presenting key highlights of revenue performance for the period starting July to December 2022 this morning, the URA Commissioner General, John Musinguzi noted that they collected only Shs11.6 trillion out of the targeted Shs11.7 trillion for the half year.

The revenue collections for the last six months thus represent 46.4% of the annual target with a slight shortfall of Shs94.8 billion.

“Whereas there was a slight shortfall of UGX 94.80 billion, the general performance was 99.19%. This performance also shows a substantial growth in revenue of UGX 1,506.83 billion (14.83%) compared to the same period last financial year 2021/22,” said Mr. Musinguzi.

Musinguzi has however revealed that in the same period, domestic tax revenue collections registered a surplus of Shs19.32 billion and a performance of 100.26%.

This is after the tax body collected Shs7.47 trillion against a target of Shs7.45 trillion.

“Direct domestic taxes registered a surplus of Shs84.74 billion, non-tax revenue posted a surplus of Shs171.08 billion while indirect domestic taxes posted a shortfall of UGX 236.50 billion,” he said.

Written by Ritah Kemigisa