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Uganda Must Expand Taxpayer Base, Says IMF

by Lorys Charalambous, Tax-News.com, Cyprus

31 October 2014


The expansion of the taxpayer base in Uganda should be the Government's top priority, the International Monetary Fund (IMF) has said as part of its recent policy review.

"Uganda critically needs to improve its tax-to-gross domestic product (GDP) ratio well before oil revenues come on stream to reduce its dependence on donor assistance or domestic borrowing and finance the countries' significant investment and social needs," Ana Lucía Coronel, the IMF's Senior Resident Representative for Uganda, said.

Continuing, Coronel commended the recent elimination of value-added tax (VAT) exemptions. She said that this must be accompanied by strict enforcement by the Uganda Revenue Authority to ensure compliance by taxpayers. Last, she said that the authorities should avoid granting new VAT exemptions that would undermine the gains accomplished so far.

TAGS: compliance | VAT rates | tax | investment | value added tax (VAT) | International Monetary Fund (IMF) | enforcement | Uganda | VAT compliance matters

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