Kampala, Uganda | NOW THEN DIGITAL — The Ugandan government reappointed John Musinguzi Rujoki as head of the Uganda Revenue Authority (URA), following a recommendation from the URA board. This decision reflects continued confidence in Rujoki’s leadership from the presidency, treasury, and central bank. The URA statement emphasized this collective backing, highlighting its importance for Uganda’s fiscal health.
Rujoki, who assumed the role in 2020, boasts academic credentials in mathematics and information systems. However, his reappointment comes amidst declining tax revenue projections.
The government anticipates a shortfall of nearly Shs3.5 trillion in domestic revenue collection for the upcoming financial year compared to the previous one. This follows a Shs600 billion deficit reported in the first quarter of the current fiscal year.
The national treasury identifies informal tax evasion, specific commercial bank practices, and tax loopholes exploited by multinational corporations as contributing factors to the revenue decline.
To bridge the budget gap, Uganda has already authorized a Shs3.5 trillion supplementary budget, prompting the central bank to explore borrowing options.
Youmight also like
I'm profoundly honored by the trust and confidence bestowed upon me by H.E. @KagutaMuseveni, Hon. @MatiaK5, and the URA Board.
I look forward to continuing to rally & guide the dedicated URA team in our commitment to Uganda’s self-sustenance. Glory to God.
Ebenezer 1 Samuel 7:12. https://t.co/tGZn66ZUyF— John R. Musinguzi (@URA_CG) March 15, 2024
