Training Workshop on Understanding Uganda’s Tax Regulations, Compliance, Offences & Penalties

Our taxation courses are designed for professionals such as economists, lawyers, accountants, and managers who are seeking to gain a level of understanding and expertise in taxation.

We also Facilitate Practical Training Sessions on the Electronic Fiscal Receipting and Invoicing System (EFRIS), and the Tax Procedures Code (e-Invoicing & e-Receipting) Regulations, 2020

TARGET PARTICIPANTS

Chief Financial Officers, Finance Managers, Accountants, Financial Controllers, Procurement Staff, Ministry Officials Responsible for Managing Tax Administration, Human Resource Department, Payroll Managers, Risk & Compliance Officers, Internal Audit Staff, Executive Directors, CEOs, Legal Officers, Business Owners & Others with Interest in Tax Knowledge.

WHY YOUR TEAM SHOULD ATTEND

In the year 2020, The Uganda Revenue Authority (URA) launched Electronic Fiscal Receipting and Invoicing System (EFRIS). It is aimed at improving compliance is by facilitating transactional-based revenue collections.

Ensuring that your organization complies with the relevant tax Regulations is one of the pre-requisites for long-term organizational efficiency and success. It is prudent to have your entire management team fully equipped with the right knowledge and tools about company tax, tax for logistics/purchasing departments, tax for the general finance function, and tax for human resources (for those responsible for employee payroll & benefits).

This Training will help your organization to be part of a comprehensive compliance improvement strategy that can produce effective results, both in terms of additional revenue and improved taxpayer behavior. Learn how to use EFRIS for e-invoicing, and to keep better records of sales.

Learn how to register and be on the right side of compliance before EFRIS’s extensive enforcement measures begin. The system is an affordable, simplified and secure mechanism through which all relevant tax information on business transactions is electronically relayed to URA.

The Uganda Revenue Authority (URA) expects you & your finance team to be well Equipped with Good record keeping skills that will help you monitor the progress of your Organization, prepare your financial statements, identify sources of income, keep track of deductible expenses, keep track of your basis in the property, prepare your tax returns, and support items reported on your tax returns.

This two-day workshop will ensure that your team can keep records relating to all its transactions since it is important to always have records that are dated so that you can understand which records relate to what period.

WORKSHOP OBJECTIVES

This 3-day workshop is meant to provide participants with key information about compliance and the risks inherent in tax transactions for businesses in Uganda. You will gain knowledge of the major tax issues and risks around business operations.

By the end of the course, participants will be able to…

• Use key information about the compliance and planning risks inherent in tax transactions
• Identify the major areas of tax risk and key danger areas to identify in the organization to have the proper documentation at all time
• Be compliant with Uganda’s Tax Laws
• Enroll in the Electronic Fiscal Receipting and Invoicing System (EFRIS)
• Have Knowledge of the Tax Procedures Code (e-Invoicing & e-Receipting) Regulations, 2020

WORKSHOP TOPICS

Electronic Fiscal Receipting and Invoicing System (EFRIS)

• The Tax Procedures Code (e-Invoicing and e- Receipting) Regulations, 2020
• EFRIS – Why KAKASA with EFRIS
• EFRIS – Introduction
• EFRIS – How to Register
• EFRIS – Stock Management
• EFRIS – How to Make A Batch Upload
• EFRIS – How to Issue An e-Invoice
• EFRIS – How to Request for a Credit Note
• EFRIS – How to Request for A Debit Note
• EFRIS – How to Manage Reports

Understanding the Domestic Tax Policy & Changes up to 2021

• PAYE, VAT, Withholding Taxes, Corporate tax
• Understanding tax accrual review and tax-deferred transactions and computations thereof
• Tax compliance-standards and reporting timeliness (Monthly, Annually, Instantly)
• Performing a VAT Input, Output Reconciliation, and Completion of a Vat Return
• Understanding the Customs Tax Policy & Changes
• Knowledge of the East African Community Common External Tariff (EAC-CET)
• A Step by Step Tax Dispute Resolution Processes
• Administering the Income Tax System for Government Bodies
• Employment Income & Associated Tax Deductions
• Understanding Tax Offences & Consequent Penalties

Understanding the Tax Procedures Code Act (Act 14 TPC Act 2014), and Its Implications on DT Processes

• Introduction to TPC
• Implication of TPC
• Registration, Returns, Assessments, and Audit
• Objection and Appeals
• Payment & Debt Collection
• Taxpayer Accounting

Your Record Books

• Accounts and Records (S129)
• Books and Records not in English Language (S 133)
• Failure to maintain proper records (S 139)
• Penal Tax in relation to Records

Legal Requirements

• Understanding the Provisions in the Income Tax Act CAP 340 that impose obligations and duties upon anyone carrying on business in Uganda

Tax Records You Should Keep After Tax Day (And How Long to Keep Them)

• An example of how you can benefit by keeping proper records
• How long should you keep your tax records in case of an audit?
• How many years of income tax records should I keep?
• How long keep financial records in Uganda?
• Why is it important to keep accurate financial records?
• Tax Records You Should Keep After Tax Day (And How Long to Keep Them)

Select qualified tax professionals when you need help with the preparation of returns or for assistance with audits or appeals.