- Ugandan Ministry of Finance presented the 2025-2026 budget speech on June 12
- Budget proposes changes to penalties for noncompliance with EFRIS for VAT
- EFRIS stands for Electronic Fiscal Invoicing and Receipting System. It is an online system implemented by the Uganda Revenue Authority (URA) to streamline and regulate the issuance of invoices and receipts, primarily to track all transactions subject to Value Added Tax (VAT).
- New penalty is twice the tax owed instead of a flat 6 million Ugandan shillings per invoice
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
