By Elizabeth Nakiru
Uganda Revenue Authority joined the Busia business community in a summit that brought together traders from all over the Eastern region to discuss opportunities, entrepreneurship, and ideas on the skilling and value addition of Ugandan products.
The event was organized by the Jitoleza Foundation in Busia and sponsored by URA and other partners who brought together like-minded people, including hoteliers, traders, and business owners.
Business mogul and proprietor of Nile Resort Jinja, Ojambo Alex, encouraged the attendees to keep and maintain proper financial records and pay taxes to avoid stunting their growth due to penalties that come with non-compliance. He also shared his business experience from when he began his business by having a clean record of proper financial management and tax planning.
‘We pay taxes of about 30 million UGX per month as Nile Resort to remain doing business, which totals up to 300 million per year,” revealed Ojambo.
He further urged small businesses to formalize their businesses to spur their legitimacy and growth.
URA presented on EFRIS, the effects of smuggling, the concept of OSBP customs, and also answered tax queries that were raised in the course of the engagement. Moses Amwine, the in charge of enforcement, explained the dangers of smuggling, while Katumba Wilson, the station head of Busia DT, expounded on EFRIS and its benefits, urging traders and business owners to plan for taxes in their businesses.
The Chief Guest, Dr. Hillary Emma Musoke, Private Secretary to the President, in charge of youth, agriculture, value addition, innovation, and export promotion, commended URA staff in Busia for professionally interacting with taxpayers.
“I think when it comes to tax collection, the missing link is to have a cordial relationship with our taxpayers. Let’s build better relationships with them,” said Musoke. We must see that we add value to our raw materials in Uganda; this is the only way to develop our country and avoid taking money from our economy, added the chief guest.
He further implored the business community in Busia to harness skills in value addition, which in turn will create jobs through the production and selling of processed products.
In her closing remarks, Josephine Kabyesiza, the representative URA keynote speaker, thanked the organizers and encouraged the business community to approach URA for any tax-related service or support they may need.
