By Abdullah Rabiiba
URA and the Uganda National Association of Building, Suppliers and Engineering Contractors (UNABSEC) recently hosted a tax dialogue at Four Points Sheraton. This collaborative effort is aimed at enhancing tax compliance and efficiency within the construction sector, address existing challenges and explore practical solutions.
UNABSEC President James Olonya expressed his appreciation to URA’s ongoing efforts to engage with the construction sector.
“Such collaborations are crucial in building a compliant and thriving industry,” he emphasized.
Gerald Namoma, the Principal Economist at the Ministry of Finance, Planning and Economic Development (MoFPED) praised the dedication of construction companies to tax compliance. He highlighted the sector ‘s impressive performance citing statistics from the Uganda Bureau of Statistics (UBOS) report.
“According to UBOS statistics, construction activities recorded a growth of 4.8% in FY2022/23, compared to 5.2% in the previous year,” Namoma noted.
He commended URA for its role in promoting tax literacy within the sector.
“I want to credit URA for a job well done in supporting voluntary taxpayer compliance. Developing a culture of compliance involves understanding taxpayers’ motivations, how they perceive taxation and the costs and benefits of compliance,” Namoma explained.
URA Tax Education expert Hafsah Seguya underscored the importance of embracing the self-assessment system, encouraging participants to voluntarily declare and file their taxes.
“It is essential for those in this sector to adopt the self-assessment system, where individuals willingly declare and file their taxes,” Seguya said.
She appreciated the construction sector’s excellent performance in the previous financial year.
Meanwhile, the event brought together stakeholders from the construction sector, URA officials and government representatives. It provided a platform for open discussion, addressing challenges and exploring solutions to enhance tax compliance.
