Tax body, Uganda Revenue authority has started the implementation of the Digital Tax Stamps on a high.
The body reports that 32 manufacturers and importers who are domestic and exporters have registered their factory lines in compliance with the Digital tax stamps. They include large scale manufacturers in Uganda like Crown Beverages, Mukwano industries and Riham industries.
URA’s Ian Rumanyika confirmed the development saying the tax body’s continuing with the registration of manufacturers for the digital tax stamps.
Uganda started implementing Digital Tax stamps on select goods this financial year following in the footsteps of regional giant economies of Tanzania and Uganda. The stamps help in monitoring revenue declaration and improvement of product authenticity.
The solution is billed to save Uganda billions of shillings in taxes that were previously undeclared or under declared.
“We encourage manufacturers who haven’t complied to do so to avoid being found on the wrong side of the law” Ian Rumanyika added.
Digital Tax stamps were gazetted by parliament in November and started taking effect in the 1st of February 2020. Goods such as wines, spirits, water, cigarettes, beer and soda are required to have the stamps.
URA is also relying on public vigilance to stop unstamped goods from getting to the market.
“We are appealing to the public and especially distributors to be vigilant and start asking questions about goods without the stamps” Ian added.
Uganda follows Tanzania and Kenya in the implementation of Digital tax stamps in the region.
