In a bid to maintain appropriate record keeping, the Uganda Revenue Authority (URA) has assigned Aisino Corporation, a Chinese company, to provide electronic invoicing and receipting services.
In a statement issued on Tuesday 5th Febraury 2019, Ms. Patience Rubagumya Tumusiime, the URA acting commissioner general, said that this new technology will enable them to create a voluntary and compliant taxpaying culture in the business sector.
Tumusiime said “Our focus is to maximize revenue yield from a current tax-to-GDP ratio of 13.8 percent to 16 percent by end of 2019/20 financial year. This technology will enable us achieve this”.
She added that this electronic service will be rolled out in 2019/20 financial year and will help them cub fictitious VAT input tax invoices easing the work of tax officers who were always in conflict with businessmen.
A project team has been set up to ensure effective implementation and execution of works by Aisino Corporation.
