June 24, 2024

Traders Tipped On Changes In URA Valuation Database

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Uganda Revenue Authority, URA has tipped local traders on changes in it’s valuation database. This is as it embarks on the process of amending its valuation database to ensure uniformity in the customs values of imported goods.

However, the purpose of the meeting was to update the industry players on the valuation database change and to discuss the difficulties they are having with the valuation procedures.

To ensure smoothness in this process, the tax body reached out to different stakeholders to get their input. It was against this background that they met with representatives from the textile industry.

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Fred Sekimpi, the Chairperson of the Uganda Tailors Association expressed concern about the rigid tax laws. This is especially the “arrogance of officers,”. Then the 35% import duty on imported clothing and textiles. And finally smuggling, which he said creates discrepancies and unfairness in the market.

Sekimpi told uncoveredug news reporters that “As tailors, we are the end manufacturers in the textile and garments industry. So with the valuation of textiles going up, we are struggling to buy fabric as it is expensive. As a result, importers will not import commodities that are not being consumed on the market,”.

In conclusion, Sekimpi also expressed dissatisfaction with the protracted appeals process, and delays by the Document Processing Centre and the Uganda National Bureau of Standards. He alleges that these delays negatively impact their businesses.

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