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URA counts on May, June collections to hit target

URA counts on May, June collections to hit target
monitor.co.ug - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from monitor.co.ug Daily Mail and Mail on Sunday newspapers.

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URA below target ahead of closure of financial year

Daily Monitor
Monday May 10 2021
URA has two months to close a Shs6 trillion before the closure of the 2020/21 financial year. PHOTO/FILE
Summary
With barely two months to the end of the financial year, URA will have to collect at least Shs6 trillion to fill the shortfall.
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For the second time in as many years Uganda Revenue Authority (URA) is expected to close the financial year with a deficit.
With barely two months to the end of the 2020/21 financial year, URA will have to collect at least Shs6 trillion to fill the revenue shortfall.
Speaking during a dialogue on the economy, Ms Julie Njuba, the URA assistant commissioner business policy, said the tax agency was behind her revenue collection by about Shs6 trillion. ....

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Exports to Middle East decline by 12 per cent

Exports to Middle East decline by 12 per cent
Friday May 07 2021
Uganda’s exports to United Arab Emirates, which continues to take the largest share, fell by 12 per cent on the account of a drop in gold receipts in March, according Bank of Uganda.
Summary
Exports to the region are dominated by gold, which takes up an average of $1.9b (Shs7.3 trillion) of the $2b (Shs7.4trillion) earnings to the Middle East.
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Uganda’s exports to United Arab Emirates, which continues to take the largest share, fell by 12 per cent on the account of a drop in gold receipts in March, according Bank of Uganda. ....

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Government treats symptoms, not disease of debt

Government treats symptoms, not disease of debt
monitor.co.ug - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from monitor.co.ug Daily Mail and Mail on Sunday newspapers.

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Agriculture, mining sectors raise hope as economy struggles to recover

Agriculture, mining sectors raise hope as economy struggles to recover
Isaac Mufumba
Ten days ago, Bank of Uganda (BoU) Governor Emmanuel Tumusiime Mutebile, while releasing the monetary report for April, revealed that whereas some level of economic recovery had been realised during the first quarter of 2021, the economy will remain subdued. Mr Mutebile pegged the prospects of the economy’s vibrancy on how the campaign to immunise Ugandans against Covid-19 will pan out. “Nonetheless, the recovery is expected to strengthen with above trend growth…as vaccine effectiveness increases,” Mr Mutebile said. Whereas Mr Mutebile did not detail the extent of the havoc that was caused by the outbreak of the coronavirus pandemic and the subsequent lockdown introduced as a containment measure, it is now emerging that the pandemic actually wiped out the growth of yesteryears and caused the economy to shrink. By how much has economy shrunk? BoU director for resea ....

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