URA empowers businesses at the eastern trade fair

URA has taken its taken tax education to the 13th Eastern Trade fair, encouraging businesses to comply through its business solutions of Electronic Fiscal Receipting and Invoicing Solution (EFRIS).

During the engagement, the URA team demystified myths around EFRIS as a solution that will mitigate tax administration through improved record keeping among taxpayers.

“There are so many misconceptions about EFRIS but I want to tell you that EFRIS is not a tax. It is a record-keeping mechanism that will support businesses,” said Andrew Kyakonye a tax education officer at URA.

He reiterated the benefits of using EFRIS including assessing the right amount of taxes.

“At the end of the month, the technology will inform you on the right VAT to remit to the national coffers because it considers input and output VAT,” Kyakonye explained.

He also implored manufacturers at the trade fair to take advantage of the tax exemptions.

“Since we have manufacturers here, come and learn about what exemptions are at your disposal. You will learn what you need to exploit so that you can invest locally,” Kyakonye revealed.

The 13th Eastern Region Trade Fair is organized by the Uganda Manufacturers Association and is being held under the theme “Facilitating BUBU through Innovation and Value Addition.” It has attracted over 100 exhibitors from different sectors.

The trade fair was opened by Hon. Florence Nambozo Wamala, the Sironko District Woman MP, who applauded UMA for organizing the event.

“The theme of this year’s fair resonates deeply with our national priorities of growing our locally made products. I commend UMA for its commitment to fostering business development and economic growth in Uganda,” said Hon. Nambozo.

By Kamugisha Kabahweza Allan

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