The Uganda Revenue Authority in September collected Shs1, 144.53 billion in net revenue, Shs35.42 billion more against the target of Sh1, 109.11 billion.
“I am happy to report that in the month of September 2017, net revenue collections were Shs1, 144.53 billion. This was UGX 35.42 billion above target, registering a performance rate of 103.19%.,” said Commissioner General Doris Akol as she presented the revenue performance report for first quarter of 2017/18 which runs from July to September.
However, on the quarterly basis URA made a deficit as it collected Shs3, 147.07 billion against the target of Shs3, 279.09 billion.
In her report Ms Akol says that the trend of the net revenue collections in the country is positive, with the highest average growth rates at 14.6% for the financial year 2013/14 and financial year 2017/18, respectively.
The report shows that 82.49 % of the total revenue was realised from five top sectors during the first quarter of the current financial year, an increase from 78.28% percent. The wholesale sector was the best with 34.26 percent followed by the manufacturing sector at 27.64 percent. The two sectors collectively generated over 61% percent of the total revenue during the first quarter of financial year 2017/18.
Looking at year- on- year growth rates, the top sectors registered a growth of 6.05% and 1.85% respectively, during the first quarter of financial year 2017/18 compared to the same period last year. The information, financial, electricity, public and mining sectors all registered declines in revenue collections.
There was a decline in tax yield of major customs items and a rise in re-exports from Shs355 billion to Shs405.04 billion in the period July to September 2017.
There was also less-than-projected growth in international trade taxes that were expected to grow at 15.84% during the period but registered a growth of 11.96%.
