The Banking industry in last financial year made about 430bn Uganda shillings in net profit or a gross profit of 614bn ugx. It also implies that Uganda revenue fetched only 184bn ugx from the entire banking industry . The latter accounts for just 2% of the Toral revenue collected by collected by URA of about 7.4trillion shillings. so are we collecting enough from bannking indutsry? The cost income ration of bottom 15 banks is about 100%, so what will be the likely impact of withdrawal etc levies? If Doris akol delivers 0.5 of GDP increment to our tax to GDP, she would have achieved her target. The land mark victory will be tapping into the informal sector( big players) carefuly tho....
Posted on: Mon, 03 Nov 2014 06:34:51 +0000
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