Museveni tells Traders to pay Taxes as Efris is going nowhere

President Museveni cautioned traders against importing finished goods into the country, contending that such actions hinder economic growth and development. He emphasized the challenges faced in exporting Ugandan products to other markets while simultaneously dealing with an influx of imported goods. Speaking at the Kololo ceremonial grounds in Kampala, he highlighted the disparity in trade relations, where Uganda struggles to export its goods while facing barriers to entry in foreign markets. He urged traders to contribute to the country's economy by paying taxes, particularly on imported items, to protect local industries and promote self-sufficiency

Museveni defended the implementation of the Electronic Fiscal Receipting and Invoicing Solution (EFRIS), dismissing traders' concerns and emphasizing the importance of VAT in sustaining the country's development. He explained that VAT ultimately falls on consumers and is necessary for funding essential services. He assured traders that the government's tax policies are designed to support local businesses and foster economic growth.

Regarding EFRIS, Museveni suggested alternative methods for traders to comply with tax regulations, such as using smartphones instead of purchasing expensive EFRIS machines. He acknowledged the challenges faced by traders and proposed flexibility in tax payment deadlines. Additionally, he refuted claims that the government favors foreign investors over local entrepreneurs, citing statistics on local business ownership.

Previously, traders had protested various issues, including the complexity of EFRIS and high taxes on imported goods. Museveni addressed these concerns by temporarily halting penalties for EFRIS non-compliance and promising further consultations with relevant ministries. He emphasized the seriousness of tax evasion, which carries significant penalties under the law.

Comment On Story

Abusive or Prohibited content won't be published.

Previous Post Next Post