×
  • HOME
  • NEWS
  • GOSSIP
  • LIFESTYLE
  • HOT 100
  • SOCIAL
  • EVENTS
  • ×
    close
    profile photo
    Business

    President Museveni Meets Traders Over Taxation Concerns

    460 views
    President Museveni Meets Traders Over Taxation Concerns
    • May 7, 2024 • 16 days ago
    in summary
    President Yoweri Kaguta Museveni is currently, this afternoon meeting with city traders to address their concerns regarding taxation, particularly focusing on the implementation of the Electronic Fiscal Receipting and Invoicing Solution (Efris) and Value Added Tax (VAT) issues. The meeting, taking place at Kololo Ceremonial Grounds, comes after a month-long protest by traders over various taxation issues. Senior Press Secretary to the President, Mr. Sandor Walusimbi, confirmed the meeting, stating, The President will meet the traders tomorrow Tuesday on issues of taxation and other issues at Kololo. Traders raised several concerns, including the complexity of Efris and the need for workers with IT and accounting skills to operate it. They argue that this requirement is impractical for the majority of wholesale traders, many of whom have minimal formal education. Additionally, traders have protested against the penalties imposed on defaulters of Efris, with the law stipulating a p

    President Yoweri Kaguta Museveni is currently, this afternoon meeting with city traders to address their concerns regarding taxation, particularly focusing on the implementation of the Electronic Fiscal Receipting and Invoicing Solution (Efris) and Value Added Tax (VAT) issues. The meeting, taking place at Kololo Ceremonial Grounds, comes after a month-long protest by traders over various taxation issues.

    Senior Press Secretary to the President, Mr. Sandor Walusimbi, confirmed the meeting, stating, “The President will meet the traders tomorrow [Tuesday] on issues of taxation and other issues at Kololo.”

    Traders raised several concerns, including the complexity of Efris and the need for workers with IT and accounting skills to operate it. They argue that this requirement is impractical for the majority of wholesale traders, many of whom have minimal formal education. Additionally, traders have protested against the penalties imposed on defaulters of Efris, with the law stipulating a penalty of Shs6 million for tax evasion through Efris manipulation.

    Last month, traders went on strike, demanding action on various issues, including high taxes on imported garments, bank agency notices issued by the Uganda Revenue Authority (URA) on traders’ accounts, and alleged corruption among tax enforcement personnel.

    In response to the protests, President Yoweri Museveni halted the penalization of Efris defaulters while consulting with various ministries on the traders' concerns.

    Traders' leaders, including Mr. Moses Lwegaba, the president of the Federation of Uganda Traders Associations, anticipate a significant turnout at the meeting.

    "We expect more than 10,000 traders to attend the meeting. We are mobilizing them to go to Kololo and listen to the president’s decision," said Lwegaba.

    Commenting on the potential outcomes of the meeting, tax consultant Mr. Samuel Asiimwe expressed concerns about the impact of maintaining Efris and VAT at current levels.

    "If he maintains Efris and VAT at all levels, the prices of products will increase and it will affect the common person in the villages," Asiimwe said.

    Traders have also raised issues regarding the violation of the Competition Act, 2023, claiming that since the enforcement of Efris, local manufacturers have been distributing their products directly to retailers in the countryside, bypassing wholesale traders.

    EFRIS in full is Electronic Fiscal Receipting and Invoicing Solution. EFRIS entails the use of Electronic Fiscal Devices (EFDs), e-Invoicing, or direct communication with business transaction systems to manage the issuance of e-receipts and e-invoices in accordance with the Tax Procedures Code Act 2014.

    With today’s meeting, the big question that remains is, will traders issues find a lasting solution following the Presidents address!

    Leave a Comment below about this story


    In other News

    Israels Offensive in Jabalia: Devastation and Controversy
    Israels Offensive in Jabalia: Devastation and Controversy
    ...
    Forest
    Forest 'still have to finish the job' against Burnley, says Nuno
    ...
    DTB Bids Farewell to Long-Serving Managing Director Varghese Thambi
    DTB Bids Farewell to Long-Serving Managing Director Varghese Thambi
    ...
    Europa League defeat will not tarnish Alonso
    Europa League defeat will not tarnish Alonso's Leverkusen pride
    ...
    Police Halt NUPs Nationwide Tours Over Breach of Guidelines
    Police Halt NUPs Nationwide Tours Over Breach of Guidelines
    ...
    Brighton clarify surprise departure of their manager Roberto De Zerbi
    Brighton clarify surprise departure of their manager Roberto De Zerbi
    ...
    Latest News
    Concert Sponsorships Controversy Unfolds as Gospel Singer Gabbie Ntaate Faces Legal Strikes
    Concert Sponsorships Controversy Unfolds as Gospel Singer Gabbie Ntaate Faces Legal Strikes
    48 minutes ago
    Canary Mugume and Sasha Ferguson
    Canary Mugume and Sasha Ferguson's Relationship Status in Question
    1 hour ago
    usercover Guest   4 days ago on Socialviba
    Fresh brand new bangers
    storycover
    click on this post to tell us what you think!
    Write a comment...

     

    Today's Hot Stories
    1
    Spice Diana speaks out on the alleged flopping of Gabbie Ntaate
    Spice Diana speaks out on the alleged flopping of Gabbie Ntaate's concert
    Celebrity
    2
    UNRA Announces Traffic Diversions at Karuma Bridge to Safeguard Public Safety
    UNRA Announces Traffic Diversions at Karuma Bridge to Safeguard Public Safety
    National
    3
    The Uganda Energy Credit Capitalisation Company to finance solar dealers
    The Uganda Energy Credit Capitalisation Company to finance solar dealers
    Business
    4
    Newcastle transfer plans,Gareth Southgate
    Newcastle transfer plans,Gareth Southgate's potential replacement and Kieran McKenna's future.
    Sport
    5
    Speaker and Deputy Speaker to spend Shs. 800,000 daily on clothing in next Financial year
    Speaker and Deputy Speaker to spend Shs. 800,000 daily on clothing in next Financial year
    National
    6
    Europa League defeat will not tarnish Alonso
    Europa League defeat will not tarnish Alonso's Leverkusen pride
    Sport
    7
    Russia denies U.S. charge that it put anti-satellite weapon in space
    Russia denies U.S. charge that it put anti-satellite weapon in space
    International
    8
    Congo
    Congo's tears, Ugandan Farmer's opportunity
    Business
    9
    "I can never kneel before any artist." Gravity omutujju
    "I can never kneel before any artist." Gravity omutujju
    Gossip
    10
    Boosting Sales and Visibility for Ugandan car dealers using Open-Air Sales Events
    Boosting Sales and Visibility for Ugandan car dealers using Open-Air Sales Events
    Business
    Listen to Music on Nowviba