URA concerned about reduction in taxes on international trade

The international trade barriers have continued to stifle Uganda Revenue Authority efforts to collect revenues.

The previous performance report indicated that international trade taxes posted a deficit of 89billion shillings while domestic taxes posted a surplus of 34 billion shillings.

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Now in the just released performance report for the month of October, the tax body says it collected only 516 billion against a target of 537 billion shillings registering a deficit of 21.2 billion. Shillings

This is mainly due to the international trade taxes amounting to 241 billion shillings while domestic taxes contributed 289 billion shillings

The international trade barriers pointed out include the Mombasa cash bonds, and the exchange rate.

The assistant commissioner of customs Katehsumbwa Dickson says the tax body hopes this to revert in the coming month now that cash bonds have been relaxed.

 

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