The Informal Sector Is Growing Faster Than The Formal – Lugoloobi

The state minister for planning in the Ministry of Finance Hon. Amos Lugoloobi has emphasized the need to sensitize Ugandans to interest them in formalizing their businesses rather than choosing to stay informal.
He explains that Uganda is experiencing rapid growth of the informal sector majorly because this section fears entering the tax bracket when they formalize and yet this is risky to their business.
Lugoloobi said this while officiating at the African Pension Supervisors Association conference in Kampala.
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