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Currency Slump Doesn’t Affect Uganda Revenue Authority’s Success

Currency Slump Doesn’t Affect Uganda Revenue Authority’s Success

“We’ve had a relatively good performance of income taxes, both corporate and non-corporate,” Henry Saka, Uganda Revenue Authority (URA) commissioner of domestic taxes told CCTV Africa.”It’s been very strong because we chose to address it. Last year it caused a problem for us.”

According to the report, the past six months have been positive for the economy. The URA reported a tax revenue increase of $8.8 million over the last year, which the country plans to use for infrastructure. While income taxes are helping, Uganda is still struggling to turn around its weakened currency, as well as financial mishaps that resulted from trade dips and security threats.