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14 companies added to list of most trusted taxpayers
URA head quarters in Kampala, Uganda. PHOTO/FILE
What you need to know:
- Under the Authorised Economic Operators, businesses that comply with customs regulations benefit from preferential treatments such as fast clearance of goods through simplified procedures and reduced inspection.
Uganda Revenue Authority (URA) has added some 14 companies on its list of most trusted tax payers, bringing the total number to slightly more than 85 enterprises.
The Authorised Economic Operators is an initiative that seeks to facilitate trade and promote security of international trade supply chain.
Some of the notable additions include, Com Foam, Jaffer Freighters, Blowplast, Unistrong Investments, and Tian Tang Group. Others are Uganda Tobacco Services, Nile Roofings, Hong Hai Wood, Luuka Plastics, Adas Enterprises and Mandela Millers.
Under the Authorised Economic Operators, businesses that comply with customs regulations benefit from preferential treatments such as fast clearance of goods through simplified procedures and reduced inspection.
Speaking in an interview after being included among the Authorised Economic Operators category, Mr Jaffer Abdallah, the National Chairman of Uganda Clearing Industry and Forwarding Association, said before going through the processes most members had some mistrust.
The initiative also seeks to counter threats that could erode benefits of flawless trade between and among countries, but also to professionalise operations to accepted standards.
Mr Abel Kagumire, the URA commissioner customs, said the initiative seeks to expose traders to a number of benefits, which include submitting electronic declarations without support documents, making pre-arrival declarations and self-managing bonded warehouses.
The initiative also seeks to improve treatment of cargo as well control the choice to a place of physical examination of goods if customs need to perform control functions, be afforded the privilege of automatically renewing license or grant license extension, let alone being in a position to get withholding tax exemption status.
