We Lost Over 40 Billion In The Year Of Implementing Electronic Fiscal Receipting & Invoicing System-URA

We Lost Over 40 Billion In The Year Of Implementing Electronic Fiscal Receipting & Invoicing System-URA

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By Spy Uganda

Uganda Revenue Authority has reported a loss over 40 billion shillings in one year of the implementation of the electronic fiscal receipting and invoicing system (EFRIS).

Launched by Uganda Revenue Authority in the 2020/21 financial year the electronic fiscal receipting and invoicing system is aimed at easing the doing of business.

The tax body says that 4 culprits have been brought to book and are currently assisting in investigating the tax avoidance scheme.

EFRIS is an initiative under the domestic revenue mobilization strategy and is to be used by all businesses to manage the issuance of receipts and e-invoices.

However, the tax body has reported non-compliance issues on the platform through non-issuance of tax receipts or invoices and suppression of sales.

According to Dennis Kugonza the Commissioner Tax Investigations, some business persons have been creating tax evasion schemes and deliberately circumventing the IT process leading to a loss of over 40 billion.

EFRIS is meant to improve the business efficiencies and reduce cost of compliance through improved record keeping among tax payers and mitigation of tax administration shortfalls.

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