By KGR Reporter,
The Uganda Revenue Authority has warned the business community against misinterpreting the President’s directive on Electronic Fiscal Receipting and Invoicing Solution.
URA says the President’s directive did not stop the implementation of the system and urges the taxpayers to continue using the system.
Clarifying the directive, URA says the President suspended penalties for non-compliance to EFRIS until May 07, 2024 for individuals engaged in general trade, notably in Kikuubo and similar business hubs. Mr. Julius Kenneth Okurut Member, of the Taxation and Economic Policy Panel at the Institute of Certified Public Accountants says Electronic Fiscal Receipting and Invoicing Solution is designed to streamline and regulate the issuance of invoices and receipts through electronic means to monitor transactions in real time, providing both efficiency and transparency to the tax system. END