Observers warn of growing of tax evasion

Civil society organizations, Transparency International and the Tax Justice Network Africa are warning that financing Uganda’s budget for the next financial year may be difficult to implement, if government doesn’t not seriously tackle growing tax evasion, which costs the country, an estimated five trillion shillings through illicit financial flows, in the form of tax evasion and other related illegal transactions. According to observers, figures for money lost through corruption are even higher.
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