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.

Airtel Uganda has been awarded Uganda’s Largest Tax Payer and recognized for their compliance in remitting taxes to Uganda Revenue Authority (URA).

The announcement was made during the Uganda Revenue Authority Taxpayers Appreciation Awards.

Airtel Uganda paid Shs136 billion in the financial year 2018/19 winning the Excel Award for the year.

“Airtel has contributed over Shs136 billion in the financial year 2018-19 making it the biggest contributor of income tax in the last financial year,” a statement from Uganda Revenue Authority read in part.

Handing over the award, the Minister of Finance Hon. Matia Kasaijja congratulated Airtel upon the achievement and lauded the company for their contribution towards the development of Uganda through tax.

Mr. V.G. Somasekhar, the Managing Director of Airtel Uganda, thanked Uganda Revenue Authority for recognizing their contribution to the company’s GDP and the work they are doing to remain complaint. He also thanked Uganda Communication Commission, Ministry of Information Communication and Technology and the Government of Uganda for the support rendered to Airtel.

“It is an honor for Airtel to be recognized as the largest tax payer in Uganda. We are thankful to our customers and partners who have made Airtel their network of choice,” he noted.

“We believe leadership is a responsibility one that we have happily taken on and this recognition is yet another milestone and an affirmation that Uganda has noticed. We remain committed to the leadership of the telecommunications sector and compliance is an integral aspect of that commitment,” he added.

The award comes on the heels of the company’s massive investment in innovation, network and infrastructural expansion.

After achieving 100 per cent of all sites on 4G LTE, Airtel is transforming wireless technologies that are bringing about efficiency in the way voice and data services are experienced across the country.

Under the stewardship of Ms. Doris Akol, URA has been able to grow revenue from UGX 8,031.03 billion in the financial year 2013/14 to UGX 14,456.11billion in the financial year 2017/18. This translates to about 80 per cent growth, raised tax to GDP ratio from 11.7 per cent in the financial year 2013/14 to 14.35 per cent in the financial year 2017/18.

Bank of Uganda (BoU), has transferred its staff at various currency centers around the country. The changes are reportedly done in a bid to minimize scandals.

The staff shakeup has taken place few weeks after some employees reportedly stole old bank notes that were meant to be punched and late destroyed.

According to daily monitor, Angela Kasirye Katete, the deputy director Corporate Affairs said the move is normal and it’s carried out from time to time as provided for in the BoU’s regulations and human resource policies.

Currently, BoU has nine branches and currency centres across the country and their purpose is to store, process and monitor the supply of currency to the government and private financial institutions in the surrounding cities, towns and villages.

Ms Katete said there allegations of pilferage involving cancelled stock at Mbale Regional Branch and that the Bank was conducting internal investigations to ascertain the veracity of the allegations.

“BoU instituted internal investigations into the currency operations at Mbale Regional Branch and these are in advanced stages. When completed the Bank will take the necessary steps accordingly,” she said.

Under the new guidelines, note examiners acquire permission to access another currency branch other than the one they work for.

Currency centers have also been ordered to review daily CCTV records and to ban food and drinks in counting rooms, among other guidelines.