URA to introduce  digital stamps

URA to introduce digital stamps

The Uganda Revenue Authority is set to ease the import process with the newly-installed digital tax stamp system.

The digital stamps, which are to be placed on products like water, soda, wines, and spirits among others are aimed at improving tax efficiency and protect local consumers.

URA now says the digital tax stamps will also improve the import process.

 The URA Assistant Commissioner for Public affairs Vincent Seruma said the stamps already provide much of the information required in the clearing of customs at the border and also quicken the process of filing and receiving VAT returns.

Uganda is the third country in the East African region to implement the Digital Tax Stamps solution after the two economic giants of Kenya and Tanzania that man large cargo at their ports.
 Kenya reduced the number of days for clearing customs from 28 to 4 days after the implementation of the system.

 Uganda currently takes close to 7 working days to clear goods.

Source: DM

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