KAMPALA – Uganda Revenue Authority (URA) has on Friday, August 27, accredited 14 new companies, to add on the already 81 which were on the Authorized Economic Operators Program (AEO).
Three of these are at regional level while 11 are at National level and these include; Comfoam Ltd, Jaffer Freight Ltd, Blow Plastics (U) Ltd, Unistrong Investments Ltd, Tian Tang Group Ltd, Uganda Tobacco Services Ltd and Nile Roofings Ltd.
Others are; Hong Hai Wood (U) Ltd, Luuka Plastics Ltd, Ada’s Enterprises, Mandela Millers Ltd, Flit Links International Ltd, Chickways (U) Ltd and Geroma Ltd.
AEO is a trade facilitation program that the URA’s Customs Department is undertaking to facilitate trade and promote the security of the international trade supply chain.
Under this program, businesses that comply with customs laws and regulations benefit from customs preferential treatments such as; fast clearance of their goods through simplified procedures, reduced.
Speaking at the accreditation function at Skyz Hotel atop Naguru hill, John Musinguzi, the Commissioner-General of URA urged more companies to work towards being on the list.
“These alone contributed 20% of our total taxes which we collected in the last Financial Year and we want to help more companies to join do that this percentage can rise to 50%,” he said.
“We pledge to continue helping our tax payer’s so that they voluntarily fulfil their tax obligations. As URA we want to double the tax targets from the current Shs23Tn to at least Shs48t and increase the GDP to Tax growth in few years,” he added
AEO program targets; Manufacturers, Customs clearing agents, Bonded warehouse keepers, Importers, Exporters, Transporters and Freight forwarders.
The accredited companies Musinguzi, according went through the proper and thorough scrutinization protocol of the Authority.
“They were tax complaints, filled their returns well and had clean books at National and others at Regional level. Our target this year is to raise 100 members on board but if they can reach 500 or 1000, it’s still ok,” he said.
Companies that are on this program, Accord to URA has different benefits which among others include; self-assessment, managing own bonded warehouses, international recognition by countries using the AEO program among others.
The program is being implemented by the East African community states of; Uganda, Kenya, Burundi, Rwanda, and Tanzania, who are also members of the world customs Organization (WCO).
Uganda, according to URA is still doing better than other countries in this program “and is even helping other countries like; Gambia, Lesotho and Tanzania in managing it,”
Other countries implementing it include; Japan, China, Korea, Malaysia, New Zealand, USA, the 27 European Union countries, Singapore, Argentina, Canada, Jordan, Norway, Switzerland.
The EAC AEO regional program was launched in April 2013 in Dar-es-Salaam Tanzania at a pilot stage.