Uganda Revenue Authority (URA) plans to enroll all VAT-eligible small and medium-sized businesses onto the Electronic Fiscal Receipt and Invoice Systems (EFRIS) to enhance VAT collection efficiency.
This decision was disclosed by URA Commissioner General John Musinguzi following a meeting with members of the Indian Business Forum to discuss taxation and business facilitation mechanisms. The meeting, held on Friday, also saw representation from the Ministry of Finance and the Uganda National Bureau of Standards.
Musinguzi stated that the Indian Business Forum members raised various operational and policy issues during the meeting. One of the concerns highlighted was the uneven deployment of EFRIS across VAT-eligible businesses nationwide. To address this, the commissioner general announced immediate enlistment of all VAT-eligible businesses onto EFRIS, allowing the use of desktop or computer applications for those lacking payment systems akin to larger businesses.
The equitable deployment of EFRIS across all businesses is viewed as a means to level the business landscape. Musinguzi attributed the delay to the sensitization process and the development of the application for smaller businesses.
Furthermore, Musinguzi noted that the four-hour closed-door meeting successfully resolved all operational issues promptly. Regarding policy matters, both parties agreed to engage with the Ministry of Finance and Parliament jointly to effect necessary policy changes.
Renowned businessman Sudhir Ruparelia, a member of the forum, described the meeting as highly beneficial, clearing up misunderstandings, particularly concerning EFRIS.
Comments are closed.