KAMPALA – Finance Minister Matia Kasaija has applauded Uganda Revenue Authority (URA) for reaching out and appreciating small and medium enterprises (SME’s) which contribute approximately 25% of the Gross Domestic Product (GDP).
He said their taxes contribute about 36% of the total domestic collections as at end of FY 2017/18.
Kasaija made the remarks on Friday night during URA taxpayers’ appreciation award dinner at Kololo Independence grounds.
He said his Ministry supports URA’s strategy of appreciating SME’s which is in line with the National budget strategy FY 2019/20.
He congratulated the tax compliant SME’s that were recognised at the gala dinner.
Kasaija said focus is on addressing the constraints faced by the private sector as they strive to be competitive.
“I can assure you of governments’ commitment to exploring all alternative workable solutions in support of SME’s growth,” said Kasaija.
He said SME’s are a key player in the achievement of Uganda’s development goal and transition to middle-income status.