Uganda Revenue Authority Commissioner General, John Rujoki Musinguzi has released net tax collections for the half-year from July to December 2024 recorded at UGX 15 trillion against a target of UGX 14 trillion registering a surplus of UGX 322 billion and a performance rate of 102 percent.
The Commissioner General, while at the half-year revenue performance press briefing noted for the Financial Year (FY) 2024/25, URA was given a net revenue target of UGX 31 trillion of which 48% representing UGX 15 trillion, was to be collected in the period July – Dec 2024 and 52% of the target, that is UGX16 trillion, is to be collected in the second half that is the period Jan -June 2025.
A growth in net revenue of UGX 2 trillion (16 percent) was registered in July to December FY 2024/25 compared to July to December FY 2023/24.
Domestic revenue collection for July to December 2024 was UGX 10 trillion against a target of UGX 9 trillion registering a surplus of UGX 257 billion and a performance rate of 102.60 percent.
A growth in domestic revenue of UGX 1.3 billion (15.01 percent) was registered in July to December FY 2024/25 compared to July to December FY 2023/24.
International trade
The international Trade revenue collection for July to December was UGX 5.426 trillion with significant revenue growth of UGX 780 billion (16.79 percent) compared to the same period last Financial Year. However, the collections were UGX 28.26 billion below the target.
Expansion of Tax Base
Irene Mwoyogwona: Beyond the Numbers – How Pride Bank's Award-Winning CFO Combines Profitability and Social ImpactURA has also added 420,183 new taxpayers to the tax-payer register bringing a total of 4,881,983 Taxpayers. The new Taxpayers so far yielded UGX 59 billion for the period July to December. Of these, 232,063 were non-individuals and 4,649,920 were individual taxpayers.
Mr. Musinguzi noted that the surplus performance was as a result of stable and resilient economic performance and enhanced administrative measures as well as good cooperation of taxpayers.
He also attributed it to enhanced administrative measures in the form of compliance initiatives, arrears management, deliberate compliance engagements with the taxpayers, increased taxpayer training and sensitization, use of alternative dispute resolution, sector-based compliance management, use of information, tax investigations, and use of technology.
Outlook for Second Half of FY 2024/25
The Commissioner General is optimistic about achieving the UGX 16 trillion target before the close of June, 2025.
