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In a few days to come the curtain will come down on the 2015/2016
Financial Year.
I am glad to report that because of your efforts and compliance, this
financial year, we will have collected for the Government over UGX
11.3 Trillion Shillings.
At URA we are proud that we have accomplished well the
assignment that was handed to us at the beginning of the financial
year in July 2015. It was not an easy task due to certain
unfavorable conditions prevailing like the depreciation of the
Uganda Shilling, which affected imports and ultimately revenue
collection.
Others were the investor anxiety around the time of elections,
liquidity squeeze and high interest rates that have affected
profitability and consumption as well as suppressed performance in
the formal employment, wholesale and retail sectors.
Nonetheless, working together with you, the revenue collections
have grown by 16% this year and with the revenue collected, we
have managed to fund about 61% of the Government Expenditure
Budget! Certainly, this could not have been done without the
diligence and compliance of you, our clients, the taxpayers; who
complied with their tax payment obligations to the Government.