URA Registers Deficit of shs 32 Billion
Uganda Revenue Authority has in the month of April registered a deficit of shs31.79 billion.
During a media briefing at URA offices yesterday ,the authority announced that it was aiming at collecting Shs. 614bn but collected Shs. 582.53bn.
Paul Kyeyune, the acting commissioner for Corporate Affairs attributed the low revenue collections to few imports.He said that many traders had anticipated chaos during the Kenyan elections in March, and thus they either postponed their imports or cancelled.
The authority however announced that domestic taxes performed well.
Domestic taxes’ collections for April 2013 were UGX 340.57 Bn against a target of UGX 332.46 Bn, posting a surplus of UGX 8.11Bn and a growth of 27.49% (UGX 73.43 Bn) compared to April 2012.International trade taxes for the month of April 2013 were UGX 256.64 Bn against a target of UGX 296.91 Bn registering a deficit of UGX 40.27 Bn.
This was influenced by deficits in petroleum duty (UGX 2.27 Bn), withholding taxes (UGX 5.34 Bn) and VAT on imports (UGX 24.74 Bn).The star performer tax-heads included: Value Added Tax on electricity, tax on bank profits and airtime. The commissioning of new power stations also helped boost tax collections.