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Uganda Revenue Authority-URA has today celebrated 10 years since they started a system called Authorized Economic Operator AEC which brings together registered business people who willfully submit their tax obligations.
AEC is a regional trade facilitation program recommended by the world customs organization to ease trade and customs clearance for tax compliant importers and exporters.
At the function held at Sheraton hotel in Kampala under the theme “Walking the Journey of Voluntary Compliance” Commissioner Customs at URA Abel Kagumire revealed that before this system URA customs tax collection from the business fraternity stool at 4% but this has increased to 33% due to AEC.
Annually the tax body collects 80 billion shillings all benefits due to the system.
Kagumire thanked members of AEC for their positive gesture to have accurate, quick and voluntary means of paying taxes which has increased URA’s revenue collection base.
Anna Nambooze, the country Director Trademark Africa said this collaboration brings a brighter future for the companies and business fraternity as they develop the country through voluntary tax payment.