Hon. Maria Kiwanuka on the spot light over NSSF

The ghosts at NSSF won’t sleep. After years of scandals with some executives leaving the fund unprepared, now the unrelenting spirits are besieging the Hon. Minister of Finance.

The big issue is allegations of conflict of interest. That the NSSF incumbent Board Chairman, Ivan Kyayonka and the Hon. Minister husband are business partners. According to NOTU Chairperson Usher Wilson, the minister is fond of favoring people who are close to her. The minister said the allegations are not substiated.

The development comes at a time the Minister has delayed appointment of a new MD for the fund after interviews were completed two months ago with Mr. Edgar Agaba, former PPDA top honcho emerging as the best candidate in the interviews.

The question is:

Why is the Minister leaving the country’s most liquid entity in a leadership vacuum?

Be it as it many there is no smoke without fire. The earlier the leadership issues are fixed at NSSF, the better. Ugandans need to have easy access to their money. Above all, the price for money is interest and capital gain; good leadership should ensure that savers get a good return of their money. Otherwise, this is a fund. Not a business.

This is what was expected from the general public, URA

It is now August 2014 and the new taxes that were passed in the 2014/15 financial budget are expected to be imposed on all goods respectively.

However, Uganda Revenue Authority (URA) a revenue collection body is facing a lot of resistance from the public against the new taxes. It is tough time for the URA revenue collectors as most business people are staging against high taxes as most taxes are ranging between 15-20%. This is killing business as profit margins have been greatly reduced yet the operational costs are still high.

The Assistant Commissioner for large tax office at URA explained that it is the duty of URA to carryout public awareness about the new taxes and their importance to the community. “We need to sensitize the general public about the new taxes given that most donors have cut off aid to Uganda. This means that we should fund our budget through revenue collections,” cited John Mayanja.

Uganda is required to raise Ugx12.3trillion in order to finance 81.8% of its Ugx15trillion national budget for the financial year 2014/15. This is all expected to come from domestic revenue and the 18.2% of the budget will be funded by donors.

The question is:

Is URA ready enough to raise the Ugx12.3 trillion from domestic revenue given the high level of tax evasions in Uganda with the recent ones in which URA is asking the Aviation Authority to impose travel bans to business men who have failed to pay their outstanding taxes?

URA has lost revenue estimated around Ugx 25.8billions to over 170 tax defaulters. How come URA is promising to raise UGx12.3trillion from domestic revenue?

This is what was expected from the general public, URA

It is now August 2014 and the new taxes that were passed in the 2014/15 financial budget are expected to be imposed on all goods respectively.

However, Uganda Revenue Authority (URA) a revenue collection body is facing a lot of resistance from the public against the new taxes. It is tough time for the URA revenue collectors as most business people are staging against high taxes as most taxes are ranging between 15-20%. This is killing business as profit margins have been greatly reduced yet the operational costs are still high.

The Assistant Commissioner for large tax office at URA explained that it is the duty of URA to carryout public awareness about the new taxes and their importance to the community. “We need to sensitize the general public about the new taxes given that most donors have cut off aid to Uganda. This means that we should fund our budget through revenue collections,” cited John Mayanja.

Uganda is required to raise Ugx12.3trillion in order to finance 81.8% of its Ugx15trillion national budget for the financial year 2014/15. This is all expected to come from domestic revenue and the 18.2% of the budget will be funded by donors.

The question is:

Is URA ready enough to raise the Ugx12.3 trillion from domestic revenue given the high level of tax evasions in Uganda with the recent ones in URA is asking the Aviation Authority to impose travel bans to business men who have defaulted the revenue body?

About M. B. Mugisa

Mustapha Barnabas Mugisa is one of those rare people who provides business consulting and advisory to professionals and corporate entities who demand the very best. He is a prolific speaker and governance (strategy and risk) expert. His speaking involves making key notes at major conferences and business events on both technical subjects and leadership skills. A change agent and motivational speaker. Mustapha provides tools and proven methodologies to remarkable results through making people appreciate change. Visit Mustapha's LinkedIn profile to know more. Mustapha is the architect of #WinningMindset Leadership and #WinningTheGame strategy approach that combines Harvard Business strategy Playing To Win, with the Blue Ocean Strategy and Balanced Score Card to deliver a strategy that is easy to execute and monitor. Visit www.mustaphamugisa.com for special insights to improve your condition. Are you too good to be great?

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