A truck transports rhino horn stockpiles at a South African site to be burned to combat illegal wildlife trade.
Uganda’s oil sector activities are ramping up as the country transitions to becoming an oil producer next year. According to a recent report by the Petroleum Fund, the taxation of oil and associated goods significantly boosted revenue for the financial year ending June 30, 2023, with the country generating an additional $11.66 million from oil tax. The report also revealed that total oil revenues (both tax and non-tax) reached $33.42 million, increasing by 54% over the previous year’s revenue. With $31.46 million, tax revenues constituted 94% of the total, while non-tax revenues accounted for the remaining 6%. For tax revenues, the increase is attributed to heightened activity in the oil sector, including corporation and withholding taxes. For non-tax revenues, the increase stems from surface rentals and training fees paid by Uganda National Oil Company and DGR Energy Turaco.
SOURCE: MONITOR