Overview:
Uganda's State Minister of Finance announces no new taxes for the upcoming financial year, prioritizing efficient use of existing taxes and anti-corruption efforts.
The State Minister of Finance (General Duties) Henry Musasizi Ariganyira has announced that the government will not introduce any new taxes in the financial year 2025/2026.
Musasizi explained that the government had resolved to emphasize on proper utilization of the current taxes, and also deal with challenges like corruption in government entities, especially those charged with management of public funds.
“We believe that if we properly utilize the current taxes and reduce the corruption in agencies like Uganda Revenue Authority and others, we will manage to operate without introducing new taxes,” he said.
The Minister also extended gratitude to the business community for fulfilling their tax payment obligations, explaining how the taxes are remitted back to cater for social service provision across the country.
“I know sometimes it feels difficult to pay taxes, but it’s the only means by which we are keeping this country peaceful, safe and secure through financing security operations, construction of roads, electricity, health, among others,” he said.
Musasizi emphasized that collecting enough revenue is crucial for the government to achieve and maintain economic sustainability while avoiding constant borrowing.