Tax Amnesty

Transparency Key in Taxation, URA Boss Says

The Commissioner General of the Uganda Revenue Authority (URA), John Rujoki Musinguzi, emphasized the role of transparency and information sharing in improving tax compliance and revenue collection. Speaking at the OECD Africa Initiative meeting in Nairobi, he highlighted how strategic planning and increased mobilization, particularly in the informal sector, have led to significant tax revenue growth.

Musinguzi noted that between 2014 and 2021, the URA experienced an increase in tax collections, with Shs 8.8 billion recorded at one point and Shs 259 billion collected in 2021. He attributed this success to the exchange of information and collaboration with partners.

Why Transparency Matters

The URA chief stressed that transparency and accountability are crucial for achieving Uganda’s revenue goals. By improving tax reporting and monitoring, the URA aims to strengthen domestic resource mobilization and compliance.

Key benefits of tax transparency include:

• Enhancing trust and accountability in tax administration
• Encouraging compliance among businesses and individuals
• Reducing tax evasion and illicit financial activities

URA’s Strategic Approach

To improve tax collection, the URA has integrated transparency into its five-year strategic corporate plan. This includes:

• Enhancing exchange of tax information with international partners
• Monitoring financial transactions to identify tax evasion
• Engaging the informal sector to boost compliance

Musinguzi also emphasized the importance of regional cooperation, stating that transparency in tax administration is critical for Uganda and other African nations to strengthen their economies.

For more details, visit the full article on The Cooperator News.