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IMF Recommends Tax Reforms In Uganda

by Lorys Charalambous, Tax-News.com, Cyprus

14 November 2013


The International Monetary Fund (IMF) has said that Uganda needs to implement tax reforms to lift its revenue collection.

The organization sent a team to the African country to hold discussions with Ugandan authorities regarding the first review of the program supported by the Policy Support Instrument (PSI).

The leader of the IMF mission, Ana Lucia Coronel, made an official statement at the conclusion of the mission in which she pointed out that Uganda's tax revenue collection is low compared with other countries in the region.

She said that Ugandan authorities need to conduct a thorough assessment of the tax system to eliminate numerous tax exemptions which are no longer useful. She also urged the government to implement its action plan to enforce compliance and clean up tax registries.

"The IMF Executive Board is tentatively scheduled to consider the first review of the PSI-supported program by end-December 2013," Ms Coronel said.

TAGS: compliance | tax | International Monetary Fund (IMF) | Uganda | tax reform | Africa

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