By Staff Writer
Uganda Revenue Authority (URA), in its bid to improve tax education and general awareness, organized a tax debate on March 14 at Uganda Christian University (UCU), main campus.
The event took place at Nkoyoyo Hall under the theme: “Uganda’s tax system: A solution to Uganda’s financing problem.”
The main discussant, Dr Asa Mugenyi, the chairperson in the Tax Appeals Tribunal and lecturer of revenue and taxation at UCU, made a presentation on how business revenue has over the years impacted the stability of Uganda’s economy.
“Since 1991, URA has been able to collect over Shs12 trillion, and this is set to increase by 2040, despite the various challenges of tax collection,” he said.
“Although Uganda’s taxation system is not the main solution to Uganda’s resource envelope due to challenges such as tax illiteracy and poor tax assessment, it is a good source of income for the country and should be supported by all.”
The other challenges that were identified by the participants were lack of accountability, corruption, balance of payment deficit, low tax base, and informal businesses, among others.
Vincent Seruma, the assistant commissioner for corporate affairs, also hailed UCU for being one of the best taxpayers in the country for paying taxes promptly. He also testified about the marketability of UCU graduates in URA.
“I have learnt that it is my duty to pay taxes and also hold the government accountable. And, if we all play our role, no one could pay more taxes,” said Doreen Nyangoma, a student.
The debate mainly attracted fourth year law students, who are majoring in revenue and taxation law, and the students were awarded with certificates of attendance.
At the end of the meeting, a UCU tax society was formed.