Indian Business Community recognized for improved tax compliance

John Musinguzi, the Commissioner General of the Uganda Revenue Authority, has 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 yesterday, 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 to 14%.

“Research has shown, however, that for any country to develop, it must be at 20% and above. This means Uganda has a difference of 6% to become a developed country,” added Musinguzi as he rallied the community.

The URA boss noted that the authority banks on continuous taxpayer engagement to better 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 better while simultaneously improving revenue.

Upender Singh Rawat, India’s High Commissioner to Uganda, commended URA for ensuring business continuity and re-echoed the compliance call, 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.

By Irene Kabakama

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