Ministry of Finance

He is Risen! We wish you Happy Easter Celebrations.

TAX BILLS 2026/27: State Minister for General Duties @henrymusasizi1 has said @GovUganda projects to generate UGX 1,741 billion in FY 2026/27 from the tax policy proposals contained in the bills and UGX 3,164 billion from URA administration measures, which contributes to the projected revenue effort of 15.5% of GDP, representing a growth of 0.6 percentage points . The Minister made the remarks while presenting the the Tax Bills for FY 2026/27 to the Finance Committee of @Parliament_Ug TAX BILLS: ✅️The Income Tax (Amendment) Bill, 2026; ✅️The Excise Duty (Amendment) Bill, 2026; ✅️The Value Added Tax (Amendment) Bill, 2026; ✅️The Tax Procedures Code (Amendment) Bill, 2026; ✅️The Stamp Duty (Amendment) Bill, 2026; ✅️The External Trade (Amendment) Bill, 2026; ✅️The Lotteries and Gaming (Amendment) Bill, 2026; and ✅️The Traffic and Road Safety (Amendment) Bill, 2026. "The Bills are meant to raise revenue, foster compliance and assist @URAuganda in its work," said the Minister adding that revenue mobilization plays a critical role in financing Government priorities for socio-economic transformation. @henrymusasizi1 also said the proposed amendments are complemented by the improvements in tax compliance,adding that the compliance strategies are designed to expand the tax base by bringing on board persons currently outside the tax net. TAX POLICY PROPOSALS: INCOME TAX: ➡️An option for taxpayers to pay rental income tax monthly. ➡️Introduce a withholding tax of 10% on commissions paid to data and voice bundle distribution agents. ➡️Introduce an Alternative Minimum Tax of 0.5% for businesses which carry forward losses beyond 7 consecutive years. ➡️Introduce 6% final witholding tax on non business assets. ➡️Introduce a withholding tax of 6% on public entertainers. VAT: ➡️Increase the VAT Threshold from UGX. 150 million to UGX 250 million.  ➡️Clarification of the taxation of imported software. STAMP DUTY: ➡️Increase the stamp duty on land transfers from 1.5% to 3%. ➡️Introduce Stamp duty on motor vehicle and Motorcycle registration both at first registration and on transfer as follows:  Motor vehicle registration at UGX. 100,000 for regular vehicles and UGX. 200,000 for commercial motor vehicles and motorcycles at UGX. 50,000. EXCISE DUTY: ➡️Increase excise duty on diesel and petrol by UGX. 200 per litre. ➡️Increase the specific excise duty rate on any other un-denatured spirits of alcoholic strength by volume of less than 80% from UGX 1700/litre to UGX 3500/litre.  ➡️Increase excise duty at first registration on motorcycles from UGX. 200,000 to UGX. 500,000. ➡️Extend excise duty to apply on all single use plastics and increase the rate from 2.5% or USD 70 per ton whichever is higher to 25% or USD 1,500 per ton whichever is higher. ➡️Increase excise duty on cement from UGX. 500 to UGX. 1,000 per 50 kg. ➡️Increase excise duty rate for sugar from Shs. 100 per Kg to Shs. 300 per Kg. ➡️Introduce excise on cooking fat and fatty acids at UGX. 500 per liter/ Kg. ➡️Increase excise duty on cooking oil from UGX. 200 to UGX. 400 per litre. TRAFFIC AND ROAD SAFETY ACT: ➡️Reduce the age of acceptable cars from 15 years to 13 years from the date of manufacturing. Introduce a graduated scale of environmental levy on imported used motor vehicles.

The budget is a process, not a one-time event. At every stage, consultations take place to inform decisions; and those decisions ultimately shape and change the final figures - Hon. @henrymusasizi1 #UBCBehindtheHeadlines

DRAFT ANNUAL BUDGET ESTIMATES OF REVENUE AND EXPENDITURE FY 2026/27: Minister of State for General Duties @henrymusasizi1 this afternoon laid before @Parliament_Ug the Draft Annual Budget Estimates of Revenue and Expenditure for FY 2026/27. @henrymusasizi1 said the budget for FY 2026/27 has been prepared under the theme “Full Monetization of the Ugandan Economy through Commercial Agriculture, Industrialization, Expanding and Broadening Services, Digital Transformation and Market Access”. "Rt. Hon. Speaker, the projected total Draft Annual Budget for FY2026/27 is Eighty-Four Trillion, Two Hundred and Ninety-Four Billion, One Hundred and Sixty-Three Million, Five Hundred and Seventy-Two Thousand, Nine Hundred and Sixty-Six Shillings Only (Shs. 84,294,163,572,966/=)," said the Minister. The Minister also noted that the Budget for FY 2026/27 has been prepared in line with the Fourth National Development Plan (NDPIV) and the Tenfold Growth Strategy. "This will be the first budget to implement the next NRM Manifesto for the period 2026/27 – 2030/31. The budget has accordingly prioritised investments in Agro-Industrialization, Tourism Development, Mineral-Based Industrial Development, and Science Technology and Innovation including ICT and Creative Arts Industry (ATMS) and Enablers," he said. He said the key expenditure drivers for the FY2026/27 Annual Budget include; increased investments in key NDPIV flagship projects such as; the Standard Gauge Railway, Meter Gauge Railway, Kampala Jinja Express highway, construction and maintenance of critical roads, and electricity for industrial parks, among others. He noted that the budget has also provided resources to support readiness activities for AFCON27 and enhancement of salaries for; Primary school teachers and Arts teachers in Secondary Schools and Business, Technical, and Vocational Education and Training (BTVET) institutions. "We have also proposed Tax Policy Measures amounting to One Trillion, Seven Hundred and Forty-One Billion Shilings (Shs. 1.741 trillion) to finance the Budget," said Musasizi.  Musasizi said the Budget Speech for FY2026/27 will be presented on Thursday 11th June, 2026. #KnowYourBudget26

Today, I met the World Bank team led by Mr. Qimiao Fan, the Division Director for Kenya, Rwanda, Somalia & Uganda and the Country Manager, Francisca Ayodeji Akala at State Lodge Nakasero. I welcome their support for the SGR and agricultural industrialization. Railways, electricity, and affordable financing are key to lowering production costs. The World Bank are now becoming Christians, by promoting global affluence & prosperity for everyone in the world.

Minister of State for General Duties @henrymusasizi1 today led @mofpedU team before @Parliament_Ug Finance Committee to present the Ministerial Policy Statement for Vote 130- Treasury Operations for FY 2026/27. @henrymusasizi1 reaffirmed @GovUganda commitment to prudent public financial management,fiscal discipline,and sustainable debt management. He said Vote 130 provides for expenditures that are statutory and have a direct charge on the consolidated fund,adding that these include; servicing of public debt and management of the contingencies fund. During FY 2026/27,@GovUganda is seeking an allocation of UGX 33.60 trillion under vote 130 to cater for the statutory obligations. @henrymusasizi1 also led the Financial Intelligence Authority team to present the Ministerial Policy Statement for FY 2026/27. The Minister said FIA is striving to enhance integrity and stability of the financial sector. In addition to facilitating effective investigation of financial crime,he said FIA is keeping Uganda off the Financial Action Taskforce (FATF) grey-list. For FY 2026/27,FIA's indicative resource envelope is UGX 50.081 billion.

MICROECONOMIC INDICATORS AND DEVELOPMENTS- FEBRUARY 2026: The number of migrant workers captured by the Immigration Department increased by 14.7% from 3,455 migrant workers in January 2026 to 3,962 migrant workers in February 2026. Formal employment returns, as captured under the PAYE Register, increased by 47% from 596,195 employees in January 2026 to 873,507 employees in February 2026. The number of members subscribing to the National Social Security Fund (NSSF) increased by 47% from 2,451,422 members in FY2023/24 to 3,604,189 members in FY2024/25. Air quality in Kampala deteriorated, with particulate matter increasing by 9.15% from 29.5μg/m³ in January 2026 to 32.2μg/m³ in February 2026. The Uganda Securities Exchange All-Share Price Index increased by 10.3% from 1,655.60 in January 2026 to 1,826.07 in February 2026. New business registrations increased by 52% from 2,464 new businesses in January 2026 to 3,746 in February 2026. For more details👇👇👇 development.finance.go.ug/sites/default/…

MUSASIZI VISITS INSPIRE AFRICA COFFEE PARK: Minister of State for General Duties @henrymusasizi1 together with Hon.Amos Kankunda, chairman finance, planning and economic development committee of Parliament today visited Inspire Africa Coffee Park in Ntungamo to assess the progress of the project. Hon. Musasizi appreciated the progress of the project,noting that this initiative is aligned with government development strategy of growing the economy tenfold under Agro-industrialization where value addition is prioritized to heavily contribute to job creation and more exports. "Indeed there is value for money, government's decision to invest in this coffee park was a wise idea," said the Minister. He said @mofpedU will continue to ensure that such projects are fully supported to realize the development goal. The CEO Inspire Africa Coffee Park, Tugume Nelson who led them on a guided tour of the project said the construction & installation of all the machinery and equipment is nearly complete. Tugume also appreciated Government for the support and the idea of investing in the coffee park. @KankundaAmos1 said the Coffee Park is a strategic investment in the coffee sector which @GovUganda should continue to support,adding that other members of parliament should find time to visit such investments and projects as part of their oversight work.

INSURANCE INNOVATION AWARDS 2026: Minister of State for General Duties @henrymusasizi1 last evening represented Speaker of @Parliament_Ug @AnitahAmong as Chief Guest at the launch of the Insurance Innovation Awards 2026. Musasizi said the Insurance Sector has registered commendable growth with Gross Written Premiums (sales) increasing from UGX 1.18 trillion in 2021 to UGX 1.76 trillion in 2024 representing a cumulative growth of 49.2%. He also noted that claims pay-outs rose from UGX 622.2 billion in 2021 to UGX 813.2 billion in 2024 reflecting a 30.7% increase. The Minister congratulated @IraUganda for attaining the ISO Certification, a true testament to its growth. He however, noted the challenges of insurance penetration and awareness levels which are still low compared to the regional peers like Kenya. To address these challenges,he urged the sector to think outside the box,by for example, expanding micro-insurance solutions,leveraging technology and designing customer-centric products. Regarding the Awards,he said they are more than just recognition but a catalyst for for transformation of the Insurance sector. The Minister said @GovUganda remains committed to creating a conducive environment for the growth of the Insurance Sector. " I urge all stakeholders to continue working together to build a vibrant,inclusive and innovative insurance sector that contributes to national development," said the Minister. The winners of the night included: @PadrePioIns (most innovative insurance solution),@EasyRideUG (Insure-Tech of the year) & @stanbicug (most innovative Bancassurance Agent's solution).

COURTESY CALL: Mr. Linden Morrison, the Global Fund’s High-Impact Head for Africa, paid a courtesy call on the PSST @rggoobi this afternoon. Linden was accompanied by the Head TB Programmes at the Global Fund, Dr. Eliud Wandwalo and Local Fund Agent, Dawson Kalemba of PricewaterhouseCoopers (PwC). The PSST commended the partnership with the Global Fund and expressed appreciation for the grant of USD 521 million which has been given to Uganda for the the Global Fund's Grant Cycle 8 (GC8 ) for 2026–2028 which focuses on intensifying the fight against HIV, tuberculosis, and malaria. He reiterated Uganda’s unwavering commitment to the highest levels of fiduciary assurance. Mr. Morrison on his part commended Uganda’s exemplary leadership in several areas of health service delivery and her contribution to regional health initiatives. He urged the Government to focus on ensuring sustainability of interventions supported by the Global Fund and other partners. The meeting was also attended by Johnson Mutesigensi, the Coordinator Public Financial Management (PFM) Reforms Unit.

MULTI-DIMENSIONAL POVERTY INDEX: Minister of State for Planning @AmosLugoloobi today officiated at the dissemination of the Multi-Dimensional Poverty Index (MPI) Census Monograph 2024 –Volume 5 produced by @StatisticsUg In his remarks,the Minister said despite the reduction in income poverty to 16.1% in FY 2023/24 from 56% in 1992/93,there remains a challenge due to the nature and prevalence of multidimensional poverty. He said the new indicators will help government to plan better and close the existing gaps and deprivations in health,education,living standards and access to basic services. He thanked @StatisticsUg for producing the report that digs deeper into the complex nature of poverty and its dimensions. Report Findings: Whereas the national multidimensional poverty stands at 27%, Karamoja subregion has the highest multidimensional poverty at 56.9%, followed by West Nile at 39.0% and Sebei at 33.5%. Kampala has the lowest poverty (MPI) at 8.8%. The rural areas have a higher MPI at 31.5% compared to the 27% in urban areas. Also this form of poverty is more evident in female and child headed households.

PRESENTATION OF URA MINISTERIAL POLICY STATEMENT FY 2026/27: Minister of State for General Duties @henrymusasizi1 has today presented @URAuganda Ministerial Policy Statement for FY 2026/2027 to the Finance Committee of Parliament for approval. URA been allocated a resource envelope of UGX 877.396Bn as per the Ministerial Policy Statement for FY 2026/27 in line with Government’s medium-term fiscal framework. "The allocation is structured to sustain revenue mobilization efforts, strengthen compliance and administrative efficiency, and support strategic investments necessary to harness emerging opportunities, including those associated with increased economic activity and the onset of oil and gas production,” said Musasizi. Flanked by the URA team, the Minister said URA is carrying out various interventions to address the challenges of revenue mobilization. He said @URAuganda has increased use of technology to bring more transparency, efficiency and simplification of processes for the taxpayers. The Minister of State for Planning Amos Lugoloobi also attended the meeting before presenting the Ministerial Policy Statement for @NPA_UG to the same Finance Committee of Parliament.

VOTE 008 MINISTERIAL POLICY STATEMENT FOR FY2026/27 PRESENTED TO FINANCE COMMITTEE OF PARLIAMENT The Minister of State for General Duties @henrymusasizi1 together with the Under Secretary and Accounting Officer, Dr Sengonzi Damulira and the technical team appeared before the Finance Committee of Parliament to present the Ministerial Policy Statement for MoFPED (Vote 008). Musasizi said the economy has demonstrated strong and broad-based growth, expanding by 8.5% in the second quarter of FY 2025/26, up from 5.4% in the corresponding period of the previous financial year. “This performance reflects effective economic management, supported by strong aggregate demand and sustained investments in productive sectors, particularly ICT, construction, and machinery, which are critical for long-term growth & structural transformation,” said the Minister. He said a major achievement under the Ministry’s mandate of macroeconomic stability has been the continued decline in inflation, which fell to 2.9% in February 2026 from 3.2% in January 2026. He noted that this outcome reflects prudent fiscal and monetary coordination and improved food supply conditions. Musasizi also said the economy recorded a merchandise trade surplus of USD 147.26 million in January 2026, a significant turnaround from previous deficits. On domestic revenue mobilization, he said the net revenue collection for the quarter two period amounted to Shs. 16,476.07 billion against a target of 17,511.59 billion, translating into a performance of 94.09% and representing a revenue growth of 8.05% compared to the same period in fiscal year 2024/25. Regarding the preparation for first Oil, the Minister said the overall progress on development of EACOP is at 80%, while Engineering Studies are being conducted for the Oil Refinery Project. “The Government expects about Shs.2.2 trillion from oil revenues next fiscal year 2026/27, of which Shs.1.4 trillion is programmed to finance the budget,” said Musasizi.

PERFORMANCE OF THE ECONOMY REPORT FOR FEBRUARY 2026: Uganda Bureau of Statistics, preliminary estimates show that the economy expanded by 8.5 percent in the second quarter of FY 2025/26, up from 5.4 percent recorded in the same quarter of FY 2024/25. This was largely due to increased aggregate demand and investments in ICT equipment, buildings, other structures, machinery & equipment. Economic activity during the month of February 2026 continued to improve, characterized by improvements in business conditions, partly due to higher output & increased employment. The high frequency indicators of economic activity and business sentiments, that is the Purchasing Managers’ Index (PMI) and the Business Tendency Index (BTI) remained above the 50-mark threshold, indicating improvements in economic activity and outlook respectively. Annual headline inflation declined to 2.9 percent in February 2026 from 3.2 percent in January 2026. The decline in headline inflation was partly attributed to a slowdown in the rate at which the prices of services increased particularly air transport services for international flights, as well as health service costs including consultation fees, hospitalization charges and blood test fees among others. The Central Bank Rate (CBR)remained unchanged at 9.75 percent in February 2026, marking the seventeenth consecutive month at this level. This rate was considered appropriate to support economic activity, while ensuring that inflation stabilizes at the policy target rate of 5 percent over the medium to long-term. In January 2026, Uganda recorded a merchandise trade surplus of USD 147.26 million. Uganda’s merchandise trade balance improved on a month-on-month basis from a deficit of USD206.43 million to a surplus of USD 147.26 million & year-on-year from a deficit worth USD215.28 million to a surplus of USD 147.26 million.  Merchandise export receipts rose substantially on a year-on-year basis (72.1 percent), rising from USD 844.60 million in January 2025 to USD 1,453.53 million in January 2026 due to higher export earnings from gold, coffee, industrial products, oil re-exports, beans, and electricity, among others. For more details:👇👇👇 finance.go.ug/sites/default/…

I congratulate the entire Muslim Ummah upon successfully completing the holy month of Ramadan. May Allah accept our fasting, our prayers and our sacrifices. May He bless the Muslim Ummah and bring peace to all our brothers and sisters around the world. Eid Mubarak.

GGOOBI URGES MUSLIM COMMUNITY TO TAKE ADVANTAGE OF WEALTH CREATION PROGRAMMES: The PSST Dr. @rggoobi has said the Muslim community is well positioned to benefit from the wealth creation initiatives because many of Uganda’s priority sectors naturally align with halal economic principles. He made the remarks during Eid prayers at Old Kampala Mosque. “I congratulate the entire Muslim Ummah upon successfully completing the holy month of Ramadan. May Allah accept our fasting, our prayers and our sacrifices,” prayed Ggoobi. He said Government is currently investing over Shs 2.4 trillion in wealth creation initiatives in the national budget, in addition to over Shs 10 trillion invested over the past decade. “Government’s message is simple: These are not political funds. These are not sectarian funds. These are economic opportunity funds. I, therefore, encourage you to take full advantage of these programmes to start or expand wealth creation ventures and improve household incomes,” said the PSST. He said the values taught to the Muslim Ummah by Ramadan including discipline, sacrifice, honesty, compassion and peace—are not only religious values but also economic values. The PSST said no society develops without discipline and no human being prospers without honesty, adding that no economy grows without integrity and sacrifice. “A community without compassionate members lacks care, trust, and the capacity to heal and most importantly, nothing works without peace,” he said. Ggoobi reiterated that Government’s role is to create opportunities and the responsibility of citizens is to identify these opportunities and seize them. He said Uganda’s future will not be determined by how much Government spends, but by how much citizens produce.

To the entire Ummah,we say #EidMubarak

PUBLIC DEBT MANAGEMENT We have put in place measures to ensure that public debt remains sustainable in the medium to long term👇👇 @DailyMonitor