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Tag Archives: revenue

Bancassurance: Banks earn Shs12bn as commission

Insurance brokers will need to evolve on how to engage, advise and on-board customers Kampala, Uganda | ISAAC KHISA | Uganda’s commercial banks earned Shs12bn in commission as insurance agents for nine months to September 30, 2021, underscoring the significance of banscassurance as a new revenue stream for financial institutions. …

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Mukono assistant town clerk interdicted over mismanagement of local revenue

Mukono, Uganda | THE INDEPENDENT | The Principal Assistant Town Clerk for Mukono Central division, Ismael Mulambuzi Ssemyalo has been interdicted for allegedly mismanaging revenue. Since the start of the Covid-19 lockdown, Mukono like other municipalities has been complaining about difficulties in raising local revenue as well as funding the planned …

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Gov’t fails to spend UGX2Trillion amidst revenue shortfall

Kampala, Uganda | THE INDEPENDENT | The Uganda Revenue Authority posted a revenue shortfall of 690.3 Billion Shillings in the first four months of the 2021/22 financial year with all tax-heads registering shortfalls except stamp duty. This meant that the government also had to adjust expenditure programs in line with the …

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Inadequate staff hindering revenue collection in Gulu city

Gulu, Uganda | THE INDEPENDENT | The inadequate number of town agents is hindering the local revenue collection in Pece-Laroo division in Gulu city. The division has six agents instead of the required 19. According to the division’s revenue performance report for the first quarter of the 2021/2022 financial year, only …

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Gov’t registers UGX52Bn revenue shortfall in November

Kampala, Uganda | THE INDEPENDENT | Government in the month of November registered a revenue shortfall of 52.18 billion Shillings against its target for the month. This is highlighted in the Ministry of Finance monthly report on the performance of the economy released on Monday. Government through the Uganda Revenue Authority-URA …

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Gulu city officials on the spot over revenue shortfalls

Gulu, Uganda | THE INDEPENDENT | Gulu city officials are under investigation for mismanaging the operations and revenue collection of Gulu main market whose construction was completed in 2015 under the Market and Agricultural Trade Improvement Programme Project (MATIP). The Parliamentary Public Accounts Committee (Local Government) sitting on Tuesday, 14 December 2021 …

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Mbarara city leaders decry drop in local revenue collections

Mbarara, Uganda | THE INDEPENDENT | Mbarara city leaders have expressed concern over the decreasing local revenue for the financial year 2021/22. The city had projected to collect 1 Billion Shillings for the first quarter of the financial year, but only 500 Million Shillings was collected. The leaders accuse the contractors …

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CSBAG wants windfall tax levied on monthly basis to maximize revenue

Kampala, Uganda | THE INDEPENDENT | The Civil Society Budget Advocacy Group (CSBAG) has asked the Committee on Finance, Planning and Economic Development to alter the Income Tax (Amendment) (No.2) Bill, 2021 to allow government levy windfall tax on a monthly basis. In its current state, the Bill that is being scrutinised …

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CSBAG cautions against allowing UNOC to retain oil revenue

Kampala, Uganda | THE INDEPENDENT | Civil Society Organizations have cautioned that allowing the Uganda National Oil Company (UNOC) to retain petroleum revenue will mark the beginning of an oil curse in Uganda. They have now asked the finance committee of Parliament to reject a proposal by the government to have UNOC …

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Mbale city moves to streamline local revenue collection

Mbale, Uganda | THE INDEPENDENT | Mbale city leaders have introduced new measures of collecting revenue. In the previous financial year, the council suffered a shortfall of more than two billion Shillings. It collected 900 Million Shillings out of the projected 3.5 Billion Shillings. In the 2017/2018 financial year, only 2 Billion …

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