By Charels Katabalwa
16th June 2023
Economic experts and analysts have tipped Ugandans on paying higher taxes in the coming Financial Year 2023/24.
During the 2023/24 KPMG Uganda Budget engagement in Kampala, analysts say that the budget ready yesterday by the Minister of Finance, Planning and Economic Development Matia Kasaija, totaling to over Shs52.7 trillion, Uganda Revenue Authority was assigned to collect 29.4 trillion shillings which is over half of the total national budget.
Dr Fred Muhumuza who is an economist and a lecturer at Makerere University says it is unfortunate that the budget is basing on local revenue collection, yet Ugandans are likely not to acquire services such as health services and education services adding that many businesses will suffer a lot due to high taxes.
Meanwhile, Peter Kyambadde, a partner at KPMG said that it is unfortunate that the number of people who pay tax is less than a half of those who are supposed to pay, thus those who pay, pay a lot.
The theme for this engagement states “Full Mobilization of Uganda’s Economy through Commercial Services, Digital Transformation and Market Access”.
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