The Uganda Revenue Authority (URA) has announced an increased revenue collection target by sh286 billion for the upcoming financial year 2024/25. The revelation was made by URA Commissioner General, John Musinguzi, during his appearance before the Parliament finance committee on Wednesday, January 10, 2024.
According to Musinguzi, URA aims to collect taxes amounting to sh29.958 trillion in the next fiscal year, reflecting a growth of sh286 billion from the current revenue target of sh29.672 trillion expected for the ongoing fiscal year. It is important to note that the presented figure is subject to potential changes during the final budget tabling.
The Commissioner General, accompanied by State Minister for Finance General Duties Henry Musasasizi and State Minister for Finance in charge of planning Amos Lugoloobi, outlined the budget allocation for URA in the upcoming financial year. Of the allocated sh619.989 billion, sh253.495 billion is earmarked for wage payments, sh321.174 billion for non-wage expenditure, and sh45.320 billion for development expenditure.
Musinguzi highlighted that URA is currently undergoing a structural review aimed at improving organizational efficiency and addressing revenue leakages. As part of this initiative, URA is seeking additional funding of sh167 billion in the next financial year’s budget to recruit 1,278 new staff members. This recruitment is deemed crucial for enhancing the workforce and achieving URA’s mandate effectively.
The Commissioner General emphasized that the recruitment process could be phased over time, considering the proposed budget allocation. He stressed the importance of this structural review, indicating that such activities had not taken place for an extended period.
