Indian Business Community Recognized for Enhanced Tax Compliance in Uganda
John Musinguzi, the Commissioner General of the Uganda Revenue Authority (URA), praised the Indian business community for their significant contribution to tax revenue during a breakfast meeting organized by the Indian Business Forum. He highlighted the growth in Uganda’s tax-to-GDP ratio, attributing it to improved taxpayer compliance. Musinguzi emphasized the importance of reaching a 20% GDP ratio for Uganda’s development.
John Musinguzi, the Commissioner General of the URA, commended the Indian business community for their significant revenue contribution.
Speaking at a breakfast meeting organized by the Indian Business Forum at Kabira Country Club on Friday, Musinguzi also thanked their High Commission for the support rendered to the authority in executing its mandate.
He noted that improved taxpayer compliance has fostered growth in Uganda’s tax-to-GDP ratio of 14%.
“Research has shown that for any country to develop, it must be at 20% GDP and above. This means Uganda has a difference of 6% to become a developed country,” Musinguzi said.
The URA boss noted that the authority banks on continuous taxpayer engagement to understand how to support businesses and promote voluntary compliance.
The meeting, which was also attended by representatives from the Uganda National Bureau of Standards and the Ministry of Finance, sought to discuss ways to support the community to maintain compliance.
Upender Singh Rawat, India’s High Commissioner to Uganda, commended URA for ensuring business continuity noting that it is critical to driving development.
The Indian Business Forum is an arm of the Indian Association Uganda that focuses on strengthening business perspectives for Indians and persons of Indian origin in Uganda to deliberate on issues that enhance business development and also build business networks.
