HomeBUSINESSURA to collect 29.7 trillion in taxes. 

URA to collect 29.7 trillion in taxes. 

By Jimmy Muhumuza

Parliament 

The minister of finance Matia Kasaija while presenting the 52.7 trillion shillings’ budget noted that 27.4 trillion shillings will be tax revenue and 2.3 trillion shillings will be non-tax revenue.

 Kasaija says that the rest of the budget will be financed through domestic debt refinancing, external financing, appropriation in aid, and local governments.

He also says that in the next financial year, the government plans to limit domestic borrowing and its consumptive expenditure and has banned the purchase of new vehicles for political leaders and public officers except for hospital ambulances.

Kasaija also says that to reduce revenue losses from exemptions, next financial year, they will commence the rationalization of tax exemptions to ensure only those who fit the criteria for exemptions benefit.

Kasaija says that the budget is dedicated to Ugandans whose income per year is below 20 million shillings and now have the opportunity to utilize the support government has rendered.

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