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Thursday, May 23, 2024

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EFRIS: Ugandan Traders Get Audience with President Museveni

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President Yoweri Museveni is scheduled to hold a meeting with traders and stakeholders today at the State House in Entebbe.

This meeting comes amidst a backdrop of a nationwide traders’ strike and concerns surrounding the Electronic Fiscal Receipting and Invoicing Solution (EFRIS) taxation system.

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Traders across the country have expressed grievances over the EFRIS system, which was implemented by the Uganda Revenue Authority (URA) to modernize tax collection and combat fraud.

However, the business community has raised issues with the system, including its impact on small and medium-sized enterprises and the perceived unfairness in tax assessments.

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The strike, led by the Kampala City Traders Association (KACITA), has seen shops closed nationwide as traders demand a review of the EFRIS system and other government policies affecting their businesses.

The strike has highlighted the challenges faced by local traders, particularly in competition with foreign investors and the standardization of URA valuation guidelines.

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President Museveni’s engagement with the traders is a crucial step towards addressing these concerns. The meeting is expected to focus on the economy, trade policies, and the contentious taxation system.

Additionally, a subsequent meeting at Kololo Independence Grounds in Kampala has been announced, promising further dialogue between the government and the trading community.

This dialogue represents a pivotal moment for Ugandan traders, offering a platform to voice their concerns directly to the highest level of government.

The outcomes of these discussions could lead to significant policy changes and a more favorable business environment in Uganda.

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