The company paid Ush 136 billion in the financial 2018/19 that led them to win the Excel Award for the year during the Uganda Revenue Authority 14TH Taxpayers Appreciation Awards – 2019
“Airtel has contributed over Ush136 billion in the financial year 2018-19 making it the biggest contributor of income tax in the last financial year,” a statement from Uganda Revenue Authority read.
The Minister of Finance Hon. Matia Kasaijja congratulated Airtel upon the achievement and applauded the company for their contribution towards the development of Uganda through tax.
Mr. V.G. Somasekhar, the Managing Director of Airtel Uganda, thanked Uganda Revenue Authority for recognizing their contribution to the country’s GDP and the work they are doing to remain compliant.
“It is an honour for Airtel to be recognized as the largest taxpayer in Uganda. We are thankful to our customers and partners who have made Airtel their network of choice,” he said.
“We believe leadership is a responsibility, one that we have happily taken on and this recognition is yet another milestone and an affirmation that Uganda has noticed. We remain committed to the leadership of the telecommunications sector and compliance is an integral aspect of that commitment,” he added.
The company has heavily invested in innovations, network and infrastructure expansion in Uganda. It says it is transforming wireless technologies that will bring the efficiency of voice and data services across the country. This is after achieving its agenda of getting all its sites on 4G LTE.
This comes as Airtel Tanzania losses narrowed to $15.94 million last year from $47.1 million in 2017 this is despite the company’s improved performance, its loses in Tanzania increased to $436.6 million.
According to the company’s 2018 financial reports, it’s revenue dropped to $202.6 million from $212.9 million in 2017. Its current assets now stand at $211.8 million, while its liabilities add up to $625.7 million.