HomeBUSINESSGovernment Introduces Six Tax Policy Measures to Increase Domestic Revenue.

Government Introduces Six Tax Policy Measures to Increase Domestic Revenue.

By Jimmy Muhumuza.

Parliament, 

The government has introduced six tax policy measures to increase domestic revenue to fund the 44.7 trillion budgets for the next financial year.

 The Ntenjeru North member of parliament who is also the state minister for planning designate Amos Lugoloobi says that out of the 44.7 trillion budget Uganda Revenue authority will domestically collect 22.4 trillion shillings.

 Lugoloobi says that to achieve this they have come up with tax policies like the introduction of a 7 percent levy on fish maw, broadening the scope of taxation to cover all plastics, reform taxation of rental income among others.

He says that they want URA to also strengthen tax arrears management and recovery, improve detection of smugglers, and close bonded houses for imported sugar among others.

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