Financial Transparency Coalition

An article the other week in the Ugandan Daily Monitor quotes an official from the Uganda Revenue Authority (URA), Mr. Patrick Mukiibi, on the value and implications of illicit flows from that country. According to the article, Uganda loses UGX 2 trillion (approx. USD 866 million) annually through “tax crime”, also termed “economic and tax fraud”. The Ugandan Ministry of Finance says that the current fiscal year (2010/2011) government budget is UGX 7.5 trillion (approx. USD 3.2 billion), and it will need loans and other development assistance to cover 26 percent of this. In other words, the article...

The Norwegian Government has granted a total of 234 Million Kroner (Shs 8 trillion) to the Ugandan Government in support of development programmes. The grant is meant to supplement the Government’s 2009/10 budget and will focus on four priority areas; rural electrification, strengthening management of oil and gas, forestry and environment and meat export development.