By: AKAMPA RUGABA Johnson
As financial year 2021/2022 nears its end, Uganda Revenue Authority released the performance report of the last nine months.urauganda The report was read by the Commissioner General, John R. Musinguzi on Tuesday at the URA offices. The Authority has managed to collect the net revenue collections of over 15,466.68 billions which representing 69.16 percent of the annual target and asignificant growth in revenue of Uganda shillings 1,490.41 billion (10.66) percent was registered in July to March financial year 2021/22 compared to the same period in the financial year 2020/21. The net collections have consistently increased in absolute terms over the five year period. The analysis and investigations being carried out during the period of July to March in this financial year, Uganda have lost over 114.58 billion in only nine months. URA commissioner general John R Musinguzi say; “VAT fraud has resulted into a problem, this is due to the fact that the number of cases risen to 94 cases, this means that 9.78 billion are being lost which is very dreadful to the country”. He also added that the key features of track and trace capabilities are realtime exchange of production and transaction Data, simplified book keeping to enhance business monitoring and also quick processing of refunds. All these efforts aiming to curbing illicit of trade and eliminating uneven playfields for taxpayers in Uganda. The Domestic revenue collections in the first nine months of the financial year 2021/22 were uganda shillings 9,484.62 billions against a target of Uganda shillings 10,670.32 billion . Registering a growth of 816.22 billion 9.42 percent as compared to the same year in the financial year 2020/21 the collections were below the target. The last days to complete this financial year 2021/22 in June uganda revenue authority has to collect over 5.9 trillion in order to meet the target. At this point commissioner general Mr. John R Musinguzi called upon all Ugandans to collaborate with uganda revenue authority in order to build a renewed uganda.