President Yoweri Museveni will meet technocrats from the Ministry of Finance, Planning and Economic Development and Uganda Revenue Authority (URA) on the 24th, April 2024 to consult on the implementation of the Electronic Fiscal Receipting and Invoicing Solution (EFRIS).

The President’s decision to meet the finance ministry and URA officials comes after the country’s leader met with leaders of traders who closed their businesses expressing discontent against URA’s implementation of EFRIS.

The President also noted that he will then meet with all the traders on 7th May 2024 at Kololo Ceremonial Grounds. Museveni further directed that all tax penalties should be suspended by the URA for the meantime to give room for wider consultations.

The leaders of the traders agreed to reopen their businesses as they continue to consult further with the government.

In the meeting, the traders said tax on textiles calculated based on kilograms is high; that the manufacturers who engage in wholesale and retail leave no room for traders to do business, resulting in unfair trade, and that EFRIS is not suitable for most of them.

They also expressed that the threshold for Value Added Tax (VAT), which is currently an annual turnover of Shs150m, should be increased.