EFRIS, the Electronic Fiscal Receipting and Invoicing System, serves as an electronic platform aimed at aiding businesses in adhering to tax regulations and monitoring their transactions. This system offers numerous advantages to businesses, including transaction tracking, verification, product identification, and tax calculation.
For businesses with annual sales exceeding UGX 150,000,000, registration for Value Added Tax (VAT) is mandatory. EFRIS plays a crucial role for VAT-registered taxpayers by facilitating accurate VAT calculation at the point of sale. It ensures that VAT is applied and collected correctly during every transaction.
Accessing EFRIS is possible through various channels, such as Electronic Fiscal Devices, Desktop Applications, Mobile EFRIS Apps, and the system’s web portal. These diverse access points make it convenient for businesses to utilize EFRIS, thereby streamlining the process of tax compliance. The primary objective of EFRIS is to simplify tax-related processes, enabling businesses to ensure accurate charging and remittance of VAT amounts.
By utilizing EFRIS, businesses can enhance their efficiency in tax compliance. The system provides a comprehensive framework for managing tax-related activities, offering businesses the tools they need to navigate the complexities of tax regulations effectively.
