URA registers a Sh7 bn surplus in July

The Uganda Revenue Authority says it’s on track to meet its target for this financial year.

This is sweet music to government which plans to fund the 80.1% of the national budget using local revenue.

The latest figures of the monthly revenue collections indicate that the net revenue collections for July were Sh.599 billion  against a target of Sh.592 billion, posting a surplus of over Sh 7 billion.

The Commissioner for Domestic taxes Henry Saka also revealed that they have managed to attract new tax payers totaling to 12,452 representing 5 percent growth.

Written by Reporter