URA exceeds half-year revenue target by Shs 322 Billion
The Uganda Revenue Authority (URA) has reported an impressive performance for the first half of the 2024/25 financial year, surpassing its revenue collection target by Shs 322 billion.
For the period July 2024 to December 2024, the revenue body collected a total of Shs 15,248.99 billion against a target of Shs 14,926.85 billion, achieving a performance rate of 102.16%.
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This represents a significant 16.08% increase compared to the same period in the previous fiscal year, contributing an additional Shs 2,112.25 billion to national coffers.
The surplus comes at a time when URA has been working tirelessly to streamline tax collection processes and enhance taxpayer compliance.
According to URA’s Commissioner General, John R. Musinguzi, the growth is attributed to a combination of stable economic conditions, strengthened administrative measures, and the cooperation of taxpayers.
"This performance is a result of enhanced compliance initiatives, the use of technology, and consistent engagement with taxpayers," Musinguzi said during a press briefing on January 8, 2025.
The domestic tax revenue collection for the period stood at Shs 10,131.57 billion, surpassing the target by Shs 257.06 billion, while international trade tax collections amounted to Shs 5,426.46 billion, falling slightly short of the target by Shs 28.26 billion.
Despite the minor shortfall in international trade collections, there was notable growth in revenue, with a 16.79% increase compared to the same period last year.
URA's efforts to expand its taxpayer base have also yielded positive results, with 420,183 new taxpayers added to the register.
The tax body has also made significant strides in improving compliance processes, such as the prefilled returns for rental tax and local excise duties, which have made filing easier for taxpayers.
Looking ahead, URA has set a net revenue collection target of Shs 16,442.32 billion for the second half of the financial year.
The authority plans to build on its achievements by further enhancing its use of data analytics, strengthening risk management systems, and tackling corruption within the tax system.
Musinguzi expressed his gratitude to all taxpayers for their contribution to the government’s efforts in nation-building, emphasising that continued collaboration and commitment from all stakeholders are crucial for meeting the ambitious annual revenue target of Shs 31,369.16 billion.
