{"id":51686,"date":"2023-06-30T10:36:51","date_gmt":"2023-06-30T10:36:51","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/ura-banks-on-digital-initiatives-to-beat-shs29-7-trillion-collection-target"},"modified":"2023-06-30T12:07:09","modified_gmt":"2023-06-30T12:07:09","slug":"ura-banks-on-digital-initiatives-to-beat-shs29-7-trillion-collection-target","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/ura-banks-on-digital-initiatives-to-beat-shs29-7-trillion-collection-target","title":{"rendered":"URA banks on digital initiatives to beat Shs29.7 trillion collection target"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Uganda Revenue Authority (URA) has said it can beat the Shs29.7 trillion collection target \u201cas long as we can work harmoniously with the taxpayers.\u201d<\/p>\n

Mr Ibrahim Bbosa, the URA assistant commissioner of public and corporate affairs, said: “There are interventions we are making that we feel will enable us to collect better, more efficiently, and even more conveniently. That is why we feel, next year\u2019s target, we can get it, as long as we can work harmoniously with the taxpayers.\u201d<\/p>\n

Government has increased the 2023\/24 Budget to Shs52.7 trillion, from Shs49.9 trillion, of which, URA is expected to collect Shs29.7 trillion from domestic taxes, while the rest will come from budget support, domestic financing, project support, domestic refinancing and local government revenues.<\/p>\n

Mr Bbosa said that under digital initiatives such as Digital Tax Stamps, URA has seen growth in tax revenue as well as an increase in the number of taxpayers on the register, which he said, had by the end of April grown to 3.36m taxpayers.<\/p>\n

Government has indicated that in the next financial year – 2023\/24 – focus will be put on digital initiatives to enhance revenue generation.<\/p>\n

URA has in the last five years deployed several digital solutions, among which include digital tax stamps (DTS), Electronic Fiscal Receipting and Invoicing Solution (EFRIS) and digitized rental tax to enhance revenue generation, combat counterfeiting, and promote public health.<\/p>\n

However, digital tax stamps have returned the highest growth with URA indicating that taxpayers, who now use the stamps, have grown to 545 companies and 140 manufacturers from just under 200 companies when the system was first implemented in 2019.<\/p>\n

This growth, according to Mr Bbosa, has in turn enhanced the growth of several companies that utilise digital tracking solutions from just 600 last year to more than 1,000.<\/p>\n

The digital tax system was implemented by SICPA Uganda, which currently employs 175 full-time employees in the operations, support and maintenance of the system.<\/p>\n

However, several stakeholders have highlighted cost as a key challenge urging government to review such issues that continue to burden businesses.<\/p>\n

In an interview on Wednesday, Mr Simon Kaheru, the EABC Uganda Chapter chairman and EABC vice chairperson, said that whereas any solution that increases government revenue was welcome, it should not cripple businesses by increasing operational costs, citing the cost of digital stamps.<\/p>\n

\u201cThe DTS contract should be coming up for discussion. So, we expect government – the Executive and Parliament – to look at all aspects and go for a solution that makes sense to Uganda,\u201d he said.<\/p>\n

Similarly, Dr Philip Byarugaba, the Private Sector Foundation Uganda director of policy and business development, said that where the issue of cost has been raised by the private sector, the digital tax stamps contract with SICPA represents what government wants \u2013 bringing more taxpayers into the tax fold.<\/p>\n

“The company represents what government wants. But the key private sector issue that we have heard of is the cost of implementing the digital tax stamp system. This is something we are studying to come up with an evidence-based report,\u201d he said.<\/p>\n

Digital stamps doing well<\/b><\/p>\n

Whereas some manufacturers have complained about the cost of digital tax stamps, Mr Patrick Ocailap, the Ministry of Finance deputy secretary to the Treasury, said yesterday: \u201cThe manufacturers complaining, want to dodge taxes\u201d, noting that: \u201cAs far as I know [digital tax stamps are] doing very well, because it eliminates under declaration.\u201d<\/p>\n

URA has previously indicated that the cost of the stamps is supported by the price of securing excise stamp – which involves the cost of the paper, printing and delivery, plus the operation, support and maintenance of the system.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Uganda Revenue Authority (URA) has said it can beat the Shs29.7 trillion collection target \u201cas long as we can work harmoniously with the taxpayers.\u201d Mr Ibrahim Bbosa, the URA assistant commissioner of public and corporate affairs, said: “There are interventions we are making that we feel will enable us to collect better, […]<\/p>\n","protected":false},"author":84,"featured_media":51685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,234],"class_list":["post-51686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nURA banks on digital initiatives to beat Shs29.7 trillion collection target - Uganda<\/title>\n<meta name=\"description\" content=\"Uganda Revenue Authority (URA) has said it can beat the Shs29.7 trillion collection target \u201cas long as we can work harmo ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/ura-banks-on-digital-initiatives-to-beat-shs29-7-trillion-collection-target\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"URA banks on digital initiatives to beat Shs29.7 trillion collection target\" \/>\n<meta property=\"og:description\" content=\"Uganda Revenue Authority (URA) has said it can beat the Shs29.7 trillion collection target \u201cas long as we can work harmo ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/ura-banks-on-digital-initiatives-to-beat-shs29-7-trillion-collection-target\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-30T10:36:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-30T12:07:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/06\/sm_1688110381.524127.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ura-banks-on-digital-initiatives-to-beat-shs29-7-trillion-collection-target#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ura-banks-on-digital-initiatives-to-beat-shs29-7-trillion-collection-target\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"URA banks on digital initiatives to beat Shs29.7 trillion collection target\",\"datePublished\":\"2023-06-30T10:36:51+00:00\",\"dateModified\":\"2023-06-30T12:07:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ura-banks-on-digital-initiatives-to-beat-shs29-7-trillion-collection-target\"},\"wordCount\":621,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ura-banks-on-digital-initiatives-to-beat-shs29-7-trillion-collection-target#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/06\/sm_1688110381.524127.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/ura-banks-on-digital-initiatives-to-beat-shs29-7-trillion-collection-target#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ura-banks-on-digital-initiatives-to-beat-shs29-7-trillion-collection-target\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ura-banks-on-digital-initiatives-to-beat-shs29-7-trillion-collection-target\",\"name\":\"URA banks on digital initiatives to beat Shs29.7 trillion collection target - 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