The government is in plans of widening its tax base by adopting entrepreneurship and empowering the youth with an aim of strengthening the country’s economy.
This was revealed by the Deputy speaker of Parliament, Thomas Tayebwa while attending the Youth Innovation Expo which started on October 6-7, 2023, at Yusuf Lule CTF, Makerere University. He said that, Uganda shall widen its tax base by fostering entrepreneurship, and empowering its youth and thus strengthen its economy.
“This is pivotal for our financial stability, ensuring we avoid excessive debt,” Tayebwa said.
“This innovation centre is a well, it’s up to you to take the water. We shall support you as the government because this is going to help us to widen the tax gap. If our tax GDP ratio is 13.9%, then we increase it to around 19%. We would have contributed another 9 trillion shillings to the state and reduced the debt we are having. So, I hope that we produce very strong business people,” he added.
Barnabas Nawangwe, the Vice Chancellor of Makerere University and a Professor of Architecture said that, the University is embarking on an inspiring journey of innovation and entrepreneurship, empowering the youth to craft their destinies and illuminate their future.
The Youth Innovation Expo is a function that brings together thousands of innovators, entrepreneurs and policy makers from across the country in a bid to foster forward and backward linkages necessary for increased job creation and dignified livelihood opportunities especially for the youth.
Makerere University in partnership with Uganda National Development Program (UNDP) and MTN Uganda launched the Youth Innovation Expo in a bid to foster Uganda’s Transformational Development.
