The Uganda Revenue Authority (URA) has posted a revenue surplus of Shs 322 billion for the first half of the 2024/25 financial year, Eagle Online has learned. The announcement was made by John Musinguzi, the Commissioner General of URA.
For the current financial year, URA was assigned a net revenue target of Shs 31.3 trillion. Of this, Shs 14.9 trillion was to be collected in the period from July to December 2024, and Shs 16.4 trillion is expected in the second half, from January to June 2025.
Musinguzi revealed that URA collected Shs 15.2 trillion in net revenue for the first half of the financial year, surpassing the target of Shs 14.9 trillion and achieving a notable surplus of Shs 322 billion.
He also highlighted a significant growth in revenue, with an increase of Shs 2.1 trillion in the July to December period of the 2024/25 financial year compared to the same period in the previous financial year (2023/24).
The Commissioner General attributed this strong performance to Uganda’s stable and resilient economic conditions, as well as enhanced administrative measures. He also acknowledged the role of patriotic taxpayers in contributing to the success.
Domestic Tax Revenue Collection
For the period July to December 2024, URA’s domestic tax revenue collection amounted to Shs 10.1 trillion, surpassing the target of Shs 9.8 trillion, resulting in a surplus of Shs 257.06 billion. This marks a growth of Shs 1.3 trillion compared to the same period in the previous financial year (2023/24).
International Trade Tax Collections
International trade tax collections for the period July to December 2024 totaled Shs 5.43 trillion, slightly surpassing the target of Shs 5.4 trillion. This resulted in a revenue growth of Shs 780.06 billion compared to the same period in the previous year. However, the collections were Shs 28.26 billion below the target for international trade taxes.
Musinguzi credited the strong performance to a range of enhanced administrative measures, including compliance initiatives, improved arrears management, and targeted engagement with taxpayers. He also noted that increased taxpayer training, sensitization efforts, the use of alternative dispute resolution mechanisms, sector-based compliance management, and the adoption of technology all played key roles in the revenue growth.
