KAMPALA, UGANDA: The Minister of Finance, Planning and Economic Development, Hon Matia Kasaija has presented to Parliament a revised shs 50.92 national budget estimate for the 2023/2024 financial year.
According to the Public Finance Management (Amendment) Act 2015, the minister is required to present annual budget estimates by April 1 of the preceding financial year.
The theme for the next budget according to Kasaija will be “Full Monetisation of Uganda’s Economy through Commercial Agriculture, Industrialisation, Expanding and Broadening Services Digital Transformation and Market Access.”
As required by law, Kasaija also tabled before Parliament, accompanying certificates including the Certificate of Financial Implication for the budget estimates, a Certificate of Gender and Equity Compliance, as well as a Certificate of Climate Change Compliance among other documents.
The minister however didn’t include the revised national budget framework paper for the financial years 2023/24-2026-2027.
On January 31, 2023, Parliament approved the National Budget Framework paper with proposals of a sh49.98 trillion budget for the financial year 2023/24.
The state minister for finance in charge of planning, Amos Lugoolobi, also tabled seven tax and revenue estimate Bills. The minister also tabled before Parliament the appropriation Bill 2023, for consideration by legislators.
The tax and revenue Bills, tabled before the House include, the Excise Duty (Amendment) Bill 2023, the Income Tax (Amendment) Bill 2023, Value Added Tax (VAT) Amendment Bill 2023, Tax Procedures Code (Amendment) Bill 2023.
The Traffic and Road Safety (Amendment) Bill 2023, the Lotteries and Gaming (Amendment) Bill 2023 and the Convention on Mutual Assistance in Tax Matters Implementation Bill 2023.
The Bills were referred to the House’s committees on finance, planning and economic development and budget respectively, for further scrutiny.
The budget estimates were also referred to the different sectoral committees of Parliament for debate and re-allocations where need be, as required by the parliament rules of procedures, before the passing of the national budget.
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