Uganda seeks to capture more mining revenue
By the AFREEQUE newsroom, based on Nile Post
Ugandan State Minister for Planning Amos Lugoloobi wants to strengthen monitoring of mining production, exports and payments to improve public revenue. The extractive sector generated about 663.24 billion Ugandan shillings, according to the fifth report of the Extractive Industries Transparency Initiative.
The Ugandan government wants to strengthen the collection of taxes, royalties and other payments owed by mining companies to increase revenue from natural resources, reports Nile Post. State Minister for Planning Amos Lugoloobi is calling in particular for better monitoring of production, exports and tax declarations by mining companies.
Uganda’s extractive sector generated about 663.24 billion shillings during the 2023-2024 financial year, of which 336.97 billion came from mining and quarrying activities, according to Amos Lugoloobi. The minister believes improved collection could provide more resources for public investment in infrastructure and social services.
Lugoloobi was speaking during the national presentation of the fifth report of the Extractive Industries Transparency Initiative (EITI), which brings together data on mining production, exports, companies and tax payments, reports Nile Post. This information should enable authorities to identify discrepancies between volumes produced, exported and declared and to better assess royalties, corporate income tax, withholding taxes and surface rents.
