URA on course to hit revenue target in the first half of 2020/2021

The Uganda Revenue Authority (URA) started FY2020/21 at the backdrop of a Covid-19 induced economic slump characterised by revenue shortfalls in April, May and June 2020.

Nonetheless, the tax body is steadfastly moving towards it's annual target of collecting Shs 19.7 trillion.

While giving a report about the authority’s end of year's performance, URA Commissioner General John Musinguzi Rujoki,said they have made a stride towards the realisation of the revenue collections target set by the Ministry of Finance, Planning and Economic Development for the year 2020/2021.

The ministry had initially told URA to collect Shs 21.6 trillion for the year, but after evaluating the possible effects of the Covid-19 pandemic, the target was reduced to Shs 19.7 trillion.

"From July to date, we’ve seen growth in revenue posting collections amounting to shs 8.7 trillion. In addition, since February we have recovered Shs 571.26 billion in arrears,"he said.

Musinguzi attributed this remarkable performance to the taxpayers adding that he believes that they will support them to meet this target.

Generally, he said, the domestic revenue collections trajectory has maintained the growth tangent of the first quarter performance, showing signs of recovery in the months of July to December 2020, averaging at 2.548%.

He said between July and December 2020, they registered signs of recovery with a growth of 7.94 % and 7.38% in customs revenue in August and September 2020.

He said this revenue performance was a concerted effort involving integrity enhancement measures,voluntary disclosure,electronic fiscal invoicing among others.

"We have made integrity a priority core value at URA and renewed our commitment to professionalism and patriotism. We are renewing the purpose that our staff attach to their role, as a service to their nation and servants to Ugandans,"he said.

Musinguzi noted that they have rolled out several business support tools to support the business community through the Covid-19.

In the 2021, Musinguzi said they will consolidate their gains to create sustainable programmes that meet the needs of their various clients emphasised on patriotism, integrity and professionalism.

"The revenue target for the second half of the FY 2020/21 (January to June 2021) is Shs 12,252.79 billion, which represent 62.20% of the annual target of 2020/21,"he said.