• info@seatiniuganda.org
  • +256 707481726
SEATINI
  • Home
  • Contact
  • info@seatiniuganda.org
  • +256 707481726
SEATINI
  • Home
  • About Us
    • Who We Are
    • Our Vision, Mission & Values
    • Our Staff
    • Board of Directors
    • Our Partners
  • Thematic Areas
    • Trade, Investment & Sustainable Development
    • Financing for Development
    • Building Alternatives for Social & Economic Justice
  • RESOURCES
    • Blog and Newsroom
    • Career Centre
    • Events
      • Upcoming Events
      • Past Events
    • Publications
      • Policy Briefs
      • Discussion Papers
      • Research Studies
      • Annual Reports
      • Downloads
    • Newsletter
    • Media Center
      • Statements/Position Papers
      • Photo Gallery
      • Videos
      • Press Releases
    • Tenders
    • Forum
  • Engage With Us
    • Contact Us
    • Feedback and complaints

URA backs campaign to end illicit financial flows

Homepage News URA backs campaign to end illicit financial flows
News

URA backs campaign to end illicit financial flows

December 8, 2016
By SEATINI
0 Comment
291 Views

 

URA commissioner General Doris Akol said the tax body is keen on stopping outflows arising from smuggling, among other activities.

Kampala- Uganda Revenue Authority (URA) has pledged to support the campaign to end the Illicit Financial Flows (IFFs) that are draining the country’s economy as well as that of the continent.
The ‘Stop the Bleeding’ campaign seeks to end plunder from the African continent.

IFFs are illegal movements of money or capital from one country to another.

At the weekend, Ms Doris Akol, the URA Commissioner General told Daily Monitor that they will certainly support the campaign that was recently launched in Uganda.

“Yes (we shall support the programme) part of [our plan to] increase domestic revenues is stopping IFFs outflows, especially those arising from smuggling, trade, misinvocing, transfer pricing and other forms of aggressive tax planning. URA is already involved in some aspect of curbing IFFs,” she said.

Africa, according to the High Level Panel report released last year, loses more than $50 billion (about Shs165 trillion) annually in illegal capital outflows.

Much of this money is lost through illegal activities supported by multinationals.
However, civil society organisations such as Southern and Eastern African Trade, Information and Negotiations Institute (SEATINI), Action Aid and Civil Society Budget Advocacy Group (CSBAG) have been at the centre stage of fighting the outflow that they put at more than $509m (Shs1.5 trillion) annually out of Uganda in particular.

The amount lost is more than or equivalent to 60 years of budget for government agencies such as the National Bureau of Standards, an institution mandated to, among other things, get rid of substandard and potentially life-threatening counterfeit products flooding the country.

It is also nearly a half of the budget allocated to key sector ministries such as that of Agriculture.
The campaign was launched in Kampala last month to advocate for policy reforms that can empower institutions such as URA to mobilise more taxes from multinationals.

 http://www.monitor.co.ug/Business/URA—campaign—illicit–financial-flows-/688322-3478566-l74wb8z/index.html


Previous Story
European Union decision to withdraw Delegated Regulation of 8 July 2016 amending Annex to Council Regulation (EC) No 15282007 with regard to Kenya
Next Story
Hundreds demonstrate against MPs tax exemption

Related Articles

CSOs Share Perspectives on the National Budget Framework Paper for FY 2023/2024

[embeddoc url="https://seatiniuganda.org/wp-content/uploads/2023/01/CSOs-Share-Perspectives-on-the-National-budget-Framework-Paper-for-FY-2023.pdf" download="all" viewer="google"]

Unmasking the Secrecy behind Shell Companies

Un

Most Read Posts

  • Making the Stimulus Package Work for MSMEs Tuesday, 16, Mar
  • Trade-Offs for Uganda’s Middle Income Status Tuesday, 9, Aug
  • CSOs Share Perspectives on the National Budget Framework Paper for FY 2023/2024 Tuesday, 17, Jan
  • Uganda Budget for FY 2019-2020; Tax measures Monday, 17, Jun
  • AN OPEN LETTER TO HIS EXCELLENCY THE PRESIDENT OF THE REPUBLIC OF UGANDA Monday, 31, Aug

Subscribe to our Newsletter

Follow us

Tweets by SeatiniU

Get in touch

The Southern and Eastern Africa Trade Information and Negotiations Institute – (SEATINI) Uganda

P. O Box, 3138, Kampala
Plot 806, Block 213, Bukoto-Kisasi Road – Kampala
– info@seatiniuganda.org
– +256 414 540856

Thematic Areas

  • Trade, Investment and Sustainable Development
  • Financing for Development
  • Building Alternatives for Social & Economic Justice
  • Equator School of Development Policy

Quick Links

  • Who we are
  • Join the Forum
  • Blog and Newsroom
  • Publications
  • Events
  • Engage with us

Connect with us

        

 

Join our mailing list


Copyright © 2020 SEATINI. All Rights Reserved
Translate »
SearchPostsLogin
Thursday, 26, Jan
Call For Suppliers’ Bids for 2023
Tuesday, 17, Jan
CSOs Share Perspectives on the National Budget Framework Paper for FY 2023/2024
Tuesday, 17, Jan
Unmasking the Secrecy behind Shell Companies
Saturday, 7, Jan
Graduate Trainee Vacancies
Friday, 16, Dec
ECONOMY TO GROW AT 5% IN 2023-SAYS WORLD BANK
Tuesday, 22, Nov
TERMS OF REFERENCE FOR THE CONSULTANCY TO DESIGN SEATINI SOUTHERN AFRICA

Welcome back,

Need Help? Chat with us
Start a Conversation
Hi! Click one of our member below to chat on WhatsApp
The team typically replies in a few minutes.
Seatini Uganda