Electoral uncertainty limits investment - business leaders
Thursday January 07 2021
Traders in down town business is still low despite the relaxation of some Covid-19 containment measures. PHOTO | ALEX ESAGALA
Summary
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Investors are taking a ‘wait and see’ approach as they put off key investment decisions ahead of the general election next week. Most investors are keeping their purse closed until after elections when they are certain about the future and the direction of the country.
According to the private sector apex body in the country, investors both local and international - have gone through hard times in 2020, due to the Covid-19 pandemic and the resultant containment measures instituted by the government since March last year.
Uganda: Ura Rejects Call to Extend E-Receipts January Deadline allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
URA rejects call to extend e-receipts January deadline
Thursday December 17 2020
Summary
The first phase which, according to URA, would seek full enforcemenet by October 1, was extended after some manufacturers and taxpayers experienced challenges in integrating their systems while others were not able to fly in their technical teams to support the integration due to the lockdown.
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Uganda Revenue Authority (URA) has rejected a proposal in which manufacturers had asked the tax agency to extend the deadline for implementation of the Electronic Fiscal Receipting and Invoicing System.
In a letter dated December 7, URA Commissioner General John Rujoki Musinguzi, notified manufacturers they would implement the Electronic Fiscal Receipting and Invoicing System effective January 1, 2021, warning manufacturers who would not have put in place supporting infrastructure of dire consequences.
Uganda: Manufacturers Want Ura to Delay E-Receipts allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
Manufacturers have asked Uganda Revenue Authority (URA) to delay the implementation of the Electronic Fiscal Receipting and Invoicing System.
The system, which is expected to be implemented effective January 1, 2021 seeks to streamline and manage the issuance of receipts and invoices for tax purposes.
It is supported under the Tax Procedures Code Act 2014, which demands that once a transaction is initiated using any of the solution components, details are transmitted to URA in real time.
In a letter addressed to the Uganda Manufacturers Association (UMA) executive director, URA Commissioner General John Musinguzi, said they had been engaging association members in both groups and individuals and had by the time of writing the letter not received any issue related to the implementation of the system.