Uganda Revenue Authority exceeds FY2024/25 revenue target by UGX 262 billion

The Uganda Revenue Authority (URA) today announced an outstanding financial performance for the Financial Year 2024/25, significantly surpassing its revenue collection target and achieving notable growth.

During its Annual Revenue Performance Press Conference, officials confirmed a net revenue collection of UGX 31,631.60 billion against a net target of UGX 31,369.16 billion, resulting in a surplus of UGX 262.43 billion. This represents an impressive 100.84 percent performance.

The URA’s Commissioner General, John R. Musinguzi, alongside the Commissioners for Customs and Domestic Taxes, presented the robust figures, highlighting a remarkable 15.86 percent (UGX 4,330.37 billion) revenue growth compared to the previous financial year.

This strong showing was attributed to a stable and resilient economy, improved administrative measures by the URA, and the strong cooperation of patriotic taxpayers.

“As you all know, we are now in the first month of the financial year 2025/26, and as a tax administration body, we would want to start by recognising and appreciating every taxpayer who has contributed their fair share of tax and has supported the effort of nation building by fulfilling their tax obligations,” stated Commissioner General John R. Musinguzi.

“It’s because of those patriotic and faithful citizens that we have been able to come this far… and it is because of your contribution that the Government has been able to provide the much-needed social services.”

The performance marks a significant rebound, with Musinguzi noting that while growth was slower in FY 2023/24, the economy expanded by 6.7 percent at the halfway point of FY 2024/25, contributing to the exceptional results. The average net revenue collection growth over the past five years has shown continuous expansion, reinforcing a positive trajectory for Uganda’s fiscal health.

Key Performance Highlights FY 2024/25:

• Overall Performance:

• • Net Revenue Collected: UGX 31,631.60 billion
  • Net Target: UGX 31,369.16 billion
  • Performance Rate: 100.84%
  • Surplus: UGX 262.43 billion
  • Year-on-Year Growth: 15.86% (UGX 4,330.37 billion)

• Domestic Tax Revenue Collection:

• • Gross Collections: UGX 21,250.99 billion
  • Target: UGX 21,119.21 billion
  • Performance Rate: 100.62%
  • Surplus: UGX 131.78 billion
  • Year-on-Year Growth: 15.59% (UGX 2,866.13 billion)

• International Trade Tax Collections:

• • Gross Collections: UGX 11,104.03 billion
  • Target: UGX 11,054.71 billion
  • Performance Rate: 100.45%
  • Surplus: UGX 49.32 billion
  • Year-on-Year Growth: 16.23% (UGX 1,550.40 billion)

The Commissioner General further highlighted Uganda’s robust economic outlook. Recent reports indicate strong growth, particularly in the services and industrial sectors, positioning the country to be among the fastest-growing economies in Africa. This positive economic environment is expected to continue supporting the URA’s revenue collection efforts in the coming financial year.

The URA emphasized its commitment to transparency and accountability to the public, underscoring that the achieved revenue allows the government to provide essential social services and fund national development projects.