Kampala, Uganda I HABARI DAILY I As Uganda moves toward a full digitalisation of its economy, the Uganda Manufacturer’s Association (UMA) has urged the government to fully embrace the Electronic Fiscal Receipting and Invoicing System (EFRIS).
This call to action was made during a recent press conference held at the UMA showground in Lugogo, where Deo Kayemba, UMA’s Chairman, articulated the transformative potential of EFRIS in revolutionizing financial transactions.
EFRIS, encompassing Electronic Fiscal Devices (EFDs), e-Invoicing, and direct communication with business transaction systems, stands as a cornerstone for the digitization of Uganda’s economy. Kayemba emphasized that many sectors are already transitioning to digital platforms, signaling the inevitability of embracing digital tools for taxation and financial management.
Kayemba highlighted the successful adoption of EFRIS by UMA members, noting its positive impact on widening the tax base and formalizing the economy. He stressed that digitalization simplifies tax processes, fosters transparency, and ensures equitable contribution from all economic players.
He however emphasized the regional significance of EFRIS adoption, pointing out that numerous African countries have already integrated similar systems. He urged Uganda to align with regional standards for seamless integration and cooperation.
Kayemba acknowledged the challenges associated with EFRIS implementation, particularly the financial burden on traders. He appealed to the government to provide free EFRIS gadgets to facilitate smooth transactions.
Regarding penalties and compliance, Kayemba called for a reconsideration of punitive measures, proposing a penalty system based on invoice value to incentivize compliance. Additionally, he advocated for adjustments to the VAT threshold to accommodate Ugandan investors, promoting economic growth and sustainability.
On the issue of textile tariffs, Dr. Ezra Muhumuza Rubanda, UMA’s executive director, emphasized the importance of maintaining existing policies to support local value addition and investment in the textile sector.
UMA’s stance reflects a cIollective effort to steer Uganda towards a digitally empowered future, marked by efficient financial systems, enhanced transparency, and sustainable economic growth.
