Uganda has set an ambitious revenue target of more than Shs40 trillion (about US$11.4 billion) for the 2026/27 financial year, marking a nine percent increase from the current year’s projection, State Minister for Finance Henry Musasizi told Parliament’s Finance Committee on Thursday.
Musasizi said the new target – up from Shs36.73 trillion in 2025/26 – is aligned with the Uganda Revenue Authority’s push to expand domestic revenue mobilisation.
“This is in line with Uganda Revenue Authority (URA)’s mission of mobilising revenue for national development,” Musasizi said.
He also presented URA’s proposed budget of Shs877 billion for 2026/27, earmarked for strengthening tax administration and institutional efficiency.
Lawmakers questioned whether the authority has adequate support to meet the higher target.
Treasury Secretary Ramathan Ggoobi said the target is underpinned by faster economic growth and upcoming tax reforms.
He noted that Uganda’s revenue effort – currently below 14 percent of gross domestic product – remains low for an economy valued at Shs284 trillion.
“Our target is 20 percent within the medium term, which we should attain in the next five years,” he said.
JN/APA