COVID-19 and harsh regulations blamed Kampala, Uganda | RONALD MUSOKE | Cigarette distributor, British American Tobacco (BAT) Uganda executives have attributed the company’s recent drop in revenue to the lingering impacts of the COVID-19 pandemic and stringent tobacco control regulations enforced by the government. In their half-year performance report ending June …
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Net operating cash flow increased by 18% to Shs221 billion supported by cash collections, operating profits, optimised working capital, and financing costs during the period Kampala, Uganda | THE INDEPENDENT | Electricity distributor, Umeme has reported a 20% increase in revenue to Shs1tn for the six months of the year ending …
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The target for revenue collection in the fiscal year 2023/24 has been set at Shs29trillion Kampala, Uganda | JULIUS BUSINGE | Uganda Revenue Authority has reported Shs57bn as surplus revenue collected for the FY2022/2023, registering a big achievement given the recent years’ mixed performance that was dented by COVID-19 lockdowns and …
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Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority is blaming politicization of revenue collection in the Ugandan public, as one of the reasons affecting compliance with tax obligations hence low revenue collections in the country. Though the amounts collected increase regularly, URA has always failed to achieve its set targets, …
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Data shows most African governments collect about 15% of their GDP in taxes compared to the 40% that is being collected by European, Asian, and North American countries Kampala, Uganda | RONALD MUSOKE | In a bid to boost revenue collection across Africa, the African Union Commission has signed a Memorandum of …
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San Francisco, USA | Xinhua | Apple on Thursday announced financial results for its fiscal 2023 second quarter ending April 1, with a quarterly revenue of 94.84 billion U.S. dollars, down 3 percent year over year. The company posted its quarterly earnings per diluted share of 1.52 dollars, unchanged year over …
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Kampala, Uganda | THE INDEPENDENT | British American Tobacco Uganda has recorded a 6% increase in revenues to Shs 99.5bn for the year ended Dece.31, 2022, but the profit after tax declined marginally to Shs 9.9bn. The cigarettes distributor said the 4% decline in profit after tax was attributed to a …
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The company distributes power in nine service territories covering 74 districts countrywide Kampala, Uganda | JULIUS BUSINGE | State-owned Uganda Electricity Distribution Company Limited has reported a 9% increase in revenues to Shs80.1bn for the period ended June 2022 citing an increase in operational efficiency and increased customer connections. UEDCL Managing …
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Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority reports a surplus collection for the month of January 2023, giving hope of meeting the year’s target of 25 trillion Shillings. The 14-billion-shilling surplus has reduced the shortfall that was registered for the first half of the financial year 2022/2023 from 94.6 …
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Kampala, Uganda | THE INDEPENDENT | The Budget Framework Paper with proposals of a Shs49.98 trillion budget for Financial Year 2023/2024 has been passed by Parliament. The passing of the Budget Framework Paper is in line with the requirement of the Public Finance Management Act that sets 01 February as deadline …
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