By Samuel Kirimunda: URA releases overall performance review for FY2021/22.
During a press conference at the Uganda Revenue Authority Headquarters in Nakawa, the Commissioner General John R. Musinguzi commended the business community for the great work towards meeting their tax obligations, in light of the challenges posed by the COVID-1 9 impact.
Musinguzi highlighted revenue performance for the period of July to December 2 0 2 1, factors that influenced the registered performance, challenges and an outlook for the remaining half of FY 2021/2022.
Overall Revenue Performance:
Uganda Revenue Authority was given a revenue target, by the Ministry of Finance, Planning and Economic Development, of UGX 22,363.51 billion which is 16.10% (UGX 3,100.51) higher than the actual revenue collection from the last financial year .
As a result, in the last six months URA projected to collect 49.47 % representing UGX 11,063.90 billion, an increase of 16.80% (UGX1,591.43 billion) from the realized revenue for the same period last financial year.
The net revenue collections for the first 6 months of this FY 2021/22 were UGX 10,163.09 billion against a target of UGX 11,063.90 billion, representing 45.44% of the annual target.
A shortfall of UGX 900.81 billion was incurred with a performance of 91.86%.
Trend Analysis of Net Revenue Performance for July to December