URA Collects UGX 28 Billion More Than Expected in August

(Kampala) – The Uganda Revenue Authority (URA) has reported a  surplus in revenue collections for the month of August 2024. The total revenue collected was UGX 2,345.04 billion, exceeding the target of UGX 2,316.85 billion by UGX 28.19 billion. This represents a performance rate of 101.22 percent, marking another strong showing in the government’s efforts to improve revenue collection.
This surplus in revenue collection reflects the commitment of Ugandan taxpayers to fulfilling their obligations and the impact of recent reforms aimed at improving tax administration. The URA has implemented various measures to streamline tax processes, and this has resulted in improved compliance and higher revenue.
In terms of domestic revenue, UGX 1,492.48 billion was collected, surpassing the target by UGX 26.75 billion. Similarly, customs revenue collections reached UGX 928.51 billion, exceeding the target of UGX 918.19 billion by UGX 10.32 billion. This overall performance reflects a 9.96 percent increase in net revenue compared to August 2023, with domestic revenue growing by 11.10 percent and customs revenue by 10.23 percent.
A detailed comparison of the revenue collections is as follows:
Category
August 2024 (UGX Billion)
Target (UGX Billion)
Surplus (UGX Billion)
Domestic Revenue
1,492.48
1,465.73
26.75
Customs Revenue
928.51
918.19
10.32
Total
2,345.04
2,316.85
28.19
Looking at the broader picture, URA’s performance over the first two months of the financial year (July to August 2024) shows a cumulative surplus of UGX 168.31 billion. The net revenue collection for this period was UGX 4,582.40 billion, exceeding the target of UGX 4,414.09 billion. This represents a growth of 15.19 percent, or UGX 604.14 billion, compared to the same period last year.
URA Commissioner General, John Musinguzi, expressed appreciation for the efforts of all Ugandans in contributing to this positive outcome. He emphasized the importance of continuing this momentum as the URA works towards its annual target of UGX 31.37 trillion, which will support the country’s economic growth.
“As we strive to mobilize UGX 31.37 trillion towards our nation’s economic growth, we recognize the importance of every citizen’s contribution. To support this effort, the government has offered a tax penalty waiver as a relief to those who have tax arrears that were due last financial year. I urge all businessmen and women with such tax arrears to embrace this opportunity and settle their tax obligations,” Musinguzi said.
The introduction of the tax penalty waiver is expected to further boost compliance, as it offers taxpayers an opportunity to clear their outstanding dues without facing additional penalties. According to statements on the tax authority’s online portals, this move is part of the broader efforts by the government to ease the tax burden on businesses while maintaining strong revenue collection.
The strong performance in August, coupled with the growing trend in revenue collections, is a positive indicator for the overall fiscal health of the country. The URA said  i remains committed to ensuring that it meets its targets for the financial year and continues to implement measures to enhance tax compliance across all sectors.
With continued public cooperation and the reforms in place, the commissioner claimed Uganda’s revenue outlook for the remainder of the year remains optimistic.