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URA increases fine for tax evading importers to Shs72M
URA is pushing for initiatives that will engender better compliance from tax payers as it tries to achieve its set target of Shs15 trillion for the coming financial year.

Two weeks to the end of the current financial year, the Uganda Revenue Authority is in a combative mood, warning importers that they risk higher fines for concealment and under-declaration of goods. 

URA is doubling its fine for under-declaration and concealment from $10,000 (Shs36M) to $20,000 (Shs72M), hoping it that this will deal with the increasing instances of the practice, which URA has partly blamed for its revenue shortfall of Shs240.2B this year.

URA officials unveiled the new fines as part of a series of new proposals during the URA Annual Budget Breakfast meeting held in Kampala on Monday.

The tax body is pushing for initiatives that will engender better compliance from tax payers as it tries to achieve its set target of Shs15 trillion for the coming financial year.