The Uganda Revenue Authority (URA) has accredited 14 companies as Authorised Economic Operators (AEOs) at regional and national level respectively.
Comfoam Ltd, Jaffer Freight Ltd, Blow Plastics (U) Ltd, Unistrong Investments Ltd, Tian Tang Group Ltd, Uganda Tobacco Services Ltd, Nile Roofings Ltd,Hong Hai Wood (U) Ltd, Luuka Plastics Ltd, Ada’s Enterprises, Mandela Millers Ltd, Flit Links International Ltd, Chickways (U) Ltd and Geroma among others.
The AEO is a trade facilitation programme which customs department in URA is under taking to facilitate trade and promote security of international trade.
Under this arrangement, businesses which comply with custom laws and regulations benefit from customs preferential treatments such as fast clearances of their goods through simplified procedures and reduced inspection.
“These are people who on their own declare their taxes and pay them without any enforcement action. We want to appreciate and congratulate the members who have been enrolled today and we want to encourage them to continue leading by example,” URA Commissioner General (CG) John Musinguzi said at the launch of AEOs at Skyz Hotel Naguru on Friday.
Musinguzi says declaring and paying own taxes reduces the cost of doing business through eliminating delays but also enables companies to offer better services due to the simplified clearance processes.
Abel Kagumire, the Commissioner Customs says that the accredited companies have supported URA in making sure that they spread the message of compliance in addition to supporting the national agenda of development.
“Our enforcement activities are now geared towards noncompliance. If we can get more companies on board, we will have about 17,000 registered taxpayers. If we can get beyond 100,000 and we grow them then it means we will spend less in fighting noncompliance,” he said.
AEO is being implemented by the World Customs Organisation (WCO), an international umbrella body to which Uganda is a member.
Under the system, an individual, business entity or government institution involved in legal international trade are authorised by the Commissioner Customs and given an AEO status, one that allows the authorised company/individual to enjoy all benefits prescribed by the URA Customs.