Government of Uganda is introducing the Electronic Fiscal Receipting and Invoicing System (EFRIS) effective financial year 2020/21.
The initiative will run under Domestic Revenue Mobilization Strategy and it shall be used by all businesses to manage the issuance of receipts and invoices using online services as prescribed in the Tax Procedures Code Act 2014 as amended.
According to URA, the system is designed to improve business efficiencies and reduce the cost of compliance through improved record keeping among taxpayers.
It will also enable tracking and authenticating of business transactions in real time for efficient business management. Fast-tracking of payment and refund claims will be possible as well as eliminating the risk of physical loss of tax invoices since transactional data is stored in the system.
The initiative it has been noted, will enable URA to avail taxpayers with pre-filled tax returns in future to minimise delays and costs involved in filing returns -according to URA.