John Musinguzi releasing the performance report earlier today, flanked by the commissioner for Domestic Taxes, Sarah Chelangat
HABARI DAILY I Kampala, Uganda I Uganda Revenue Authority (URA) has registered a tremendous rise in net revenue collections for FY 2024/25 by collecting sh31,543.27b, and achieving a performance of 100.54 percent with a surplus of sh174.11b.
According to the URA Annual Revenue Performance Press Brief for FY 2024-25, the tax collecting body was assigned a net revenue target of Sh31,369.16b, a task it was able to surpass.
“This resulted in a notable revenue growth of 15.54 percent, which amounted to sh4,242.05b, compared to the previous financial year,” reads part of the report.
This performance, it says, was driven by a stable and resilient economy during the year, improved administrative measures, and strong cooperation from patriotic taxpayers.
John Musinguzi, the Commissioner General, said the average net revenue collection growth over the past five years showed continuous expansion,” reads part of the brief, signed by.
“Whereas a slower growth was seen in FY 2023/24, in the last financial year, the economy grew by 6.7 percent at the halfway point, which boosted revenue collections in a way.”
Musinguzi further said that the Uganda economy is experiencing strong growth, with projections suggesting a solid performance.
“Recent reports highlight a positive trend, especially in the services and industrial sectors, and the country is expected to be among the fastest-growing economies in Africa,” he said.
When it comes to domestic tax collections during FY 2024/25 were boosted by domestic tax collections, said the taxman.
“Domestic revenue collections were sh21,242.73b against a target of Sh21,119.21b, registering a performance of 100.58 percent and a surplus of sh123.53b. Subsequently, a growth of sh2,857.88b (15.54 percent) was realised as compared to FY 2023/24.”
Government garnered sh5.3b in Pay As You Earn, Sh5b in VAT, sh3.2b in corporate tax, and sh2.4b in Local Excise Duty. It also collected sh108b in non tax revenues, sh702b in treasury bills, sh331b in rental income tax, sh144m in casino, sh115b in personal income tax (PIT), and sh22b in presumptive tax.
2025/26 outlook
The net revenue collection target for the FY 2025/26 is sh36,740.62b, which represents an absolute increase of sh5,370.50b (17.12 percent) in comparison to the FY 2024/25.
Musinguzi further said that given the projected economic growth of about 7 percent and the revenue growth realized in the FY 2024/25, the target for the FY 2025/26 will remain achievable given the robust strategy and administrative measures that we have taken,” further reads the statement.
“We have strengthened the tax administration and compliance, increased workforce, upped the stakeholder engagements and sensitization. We have also improved staff accountability through the performance management system,” said the taxman.
URA said that they have also implemented digital stamps and EFRIS enhancing the use of data analytics, artificial intelligence, and risk management to identify potential taxpayers, audit cases, and revenue leakages.
