{"id":55486,"date":"2023-09-15T10:31:49","date_gmt":"2023-09-15T10:31:49","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/unlicensed-businesses-and-inaccurate-record-keeping-frustrate-tax-compliance"},"modified":"2023-09-15T12:24:36","modified_gmt":"2023-09-15T12:24:36","slug":"unlicensed-businesses-and-inaccurate-record-keeping-frustrate-tax-compliance","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/unlicensed-businesses-and-inaccurate-record-keeping-frustrate-tax-compliance","title":{"rendered":"Unlicensed businesses and inaccurate record-keeping frustrate tax compliance"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Technical leaders in Mbarara City have revealed that a significant number of unlicensed businesses and traders who neglect proper record-keeping are posing challenges to tax compliance within the city. This situation has prompted a call for a comprehensive restructuring of the system.<\/p>\n

Speaking at The Civil Society Budget Advocacy Group’s engagement on local revenue mobilisation held at Dream Wood Suits in Mbarara City on September 13, Mr Didas Muhanguzi, the Division Town Clerk of Mbarara City South, expressed concerns about the difficulties tax collectors face due to traders’ inadequate record-keeping practices.<\/p>\n

He said that the lack of records hampers their ability to accurately assess taxes owed by individuals.<\/p>\n

“As revenue collectors, our most significant challenge revolves around record-keeping, especially among those on whom we levy taxes. Our traders often fail to maintain proper records, making it challenging for assessors to accurately determine the appropriate tax amount. For instance, in the management of local hotel taxes, we heavily rely on the records provided. If these records are absent, it complicates matters because we need to understand your business operations to establish a baseline for assessment. I urge our taxpayers to maintain proper records to facilitate a more accurate assessment of their tax obligations,” Mr Muhanguzi stated.<\/p>\n

Mr Muhanguzi stressed the importance of business owners registering their enterprises accurately and adhering to the proper procedures for obtaining trading licenses.<\/p>\n

“Many people circumvent the process of obtaining trading licenses, causing inconvenience for our taxpayers. If traders follow the correct procedures, this inconvenience can be significantly reduced. To open a business, individuals are legally required to engage with us first, disclosing the nature and location of their business. We then inform them of the necessary requirements for their specific business type. This process eliminates about 90 percent of the inconveniences,” he explained.<\/p>\n

He also clarified the misconception that merely paying a fee at the bank equates to acquiring a trading license, emphasizing that businesses must go through the registration process, obtain a tax identification number (TIN), and prominently display their trading licenses at their business premises.<\/p>\n

He noted incidents where businesses were registered under neighbors’ names, leading to difficulties in tracing the actual owners.<\/p>\n

Mr Michael Gumoshabe, a merchandise business operator, attributed the challenges of maintaining accurate records to the diverse mix of educated and uneducated individuals involved in business within the city.<\/p>\n

“The business community comprises individuals from various educational backgrounds, and not all of us, including the educated ones, are adept at record-keeping. Traders are often unaware of the benefits of maintaining proper records, and some do not prioritize this aspect. For many of us, it’s about balancing profits, and record-keeping is not deemed essential,” he said.<\/p>\n

Gumoshabe added that the process of acquiring trading licenses had been challenging due to insufficient awareness of the proper procedures, leading to unnecessary expenses and efforts.<\/p>\n

Mr Mwijuka Simon Sezi, Chairperson of the Mbarara City Traders Association (MBACITA), acknowledged that not all traders comprehend the importance of record-keeping, as some prioritise tangible profits from their businesses.<\/p>\n

He emphasised that the private sector is open to individuals regardless of their educational qualifications and that measures are being explored to assist those who struggle with record-keeping.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Technical leaders in Mbarara City have revealed that a significant number of unlicensed businesses and traders who neglect proper record-keeping are posing challenges to tax compliance within the city. This situation has prompted a call for a comprehensive restructuring of the system. 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