URA collected 1.2 trillion Shillings in July 2020 against a target of 1.02 trillion Shillings – registering a surplus of 179 billion Shillings for the month, according to the reporting by the Ministry of Finance in July performance of the economy report.
The ruling today is a huge boost to business owners that have for long argued that their money is unnecessarily held up at URA as cases drag on for years at the Tax Appeals Tribunal. It is, however, a blow to URA that has been collecting this money before one could challenge its decisions.
The program, also known as, the Electronic Fiscal Receipting and Invoicing Solutions is a government initiative through which businesses are obliged to transmit transaction details to URA in real-time and issued with electronic receipts and invoices. The system helps the tax body to confirm the accuracy of self-assessments made by taxpayers.
Finance Minister Matia Kasaija said the company will start working in July and is expected to help the government realize more revenues from the sector. He urged the Property owners not to feel agitated and think that the government is trying to squeeze them.”
Agfri Uganda, which manages and gives money to other companies that buy and sell agricultural produce in Uganda, ran to the tribunal after URA presented it with a tax bill of 912 million Shillings for a period between 2014 and 2017.
According to the Spokesperson of the Criminal Investigations Department of Police Charles Twine, the five suspects were found with three live pangolins from Masindi District, and they will be transported to Kampala before they are arraigned in court.
The Commissioner General of Uganda Revenue Authority, Doris Akol highlighted a number of challenges faced by the tax body among which included the unregulated informal sector which affects expansion of the revenue base, gross under declaration of rental income and inadequate funding to support structural review, skills enhancement and reach in critical areas for example Oil, Gas and Telecoms.
Uganda Revenue Authority (URA) is to get an additional Shillings 23billion in the coming financial year 2019/2020 budget. This is on top of the authority’s budgetary allocation of 431.26 billion shillings.