Recently, the Uganda Revenue Authority (URA) actively participated in the Mbarara City Traders’ Symposium, a platform where traders convened to discuss various issues affecting their businesses, with a significant focus on customs processes and the Electronic Fiscal Receipting and Invoicing Solution (EFRIS).
Representing the Commissioner General, Dennis Kugonza Kateeba, the Commissioner of Tax Investigations, commended the Mbarara business community for their proactive engagement with URA and other stakeholders to address challenges within their trade environment. He assured the traders of increased sensitization efforts to enhance their understanding of tax obligations and facilitate compliance.
Dr. Okaka Geoffrey, the Assistant Commissioner of Field Services, addressed concerns raised about valuation practices. He elucidated that URA employs multiple methods to determine the value of imported goods, primarily relying on the invoice value. However, Dr. Okaka cautioned against the practice of invoice trading, emphasizing its adverse repercussions on businesses.
Emmanuel Bichetero, the Assistant Commissioner of Business Compliance, enlightened traders on the offline option available for utilizing EFRIS in situations where internet access is limited. This practical advice aimed to equip traders with alternative means to ensure compliance with tax regulations.
The symposium, spanning three days at the Ntare Gardens, witnessed the participation of over 50 companies and thousands of traders from various regions across the country. According to Mr. Mwijuka Simon Ssezi, the chairperson of the Mbarara City Traders Association (MBACITA), the symposium served as a nexus between businesses and government agencies like URA, Uganda Registration Services Bureau, and the Ministry of Finance, Planning, and Economic Development.
Mr. Ssezi emphasized the importance of tax literacy for businesses, underscoring its significant impact on their operations. He highlighted the symposium’s role in providing traders with opportunities to showcase their products, network with peers, and gain insights into best taxation practices, ultimately fostering voluntary tax compliance and enabling businesses to leverage government initiatives.
In addition to the symposium sessions, URA established a tax hub on the sidelines, offering dedicated tax advisory services to traders.
