The Uganda Revenue Authority was at the start of the financial year 2017/2018 tasked to collect 15 trillion shillings of the 29 trillion shillings on the budget.

By the end of the financial year, however, the authority had fallen short of 606.32 billion shillings after collecting 14.6 trillion shillings of the 15 trillion. “And then during the year, there were some tax reductions on imported rice which also did not enable us to collect as much tax as we would have collected on imported rice.

And that is one of the reasons why even though that money was factored in at the beginning of the year but because those decisions were reversed during the year, we were not able to collect that tax.” Said, Doris Akol – Commissioner General, URA.

Meanwhile, the insurance sector now has a policy to not just insure an individual but the whole family in a single premium paid.

These will also have a component of savings on the funeral insurance. “For a family of eight, it costs 37,000 per month. And if you see that, it also has savings on it. So as you pay premiums, this time you also have the savings.” Said, Ronald Zaake – Managing Director, A-Plus Group.