VAT regulations can be complex, and failure to comply can result in financial penalties. At Ssentumbwe Samson, we provide expert guidance on VAT registration, Electronic Fiscal Receipting & Invoicing System (EFRIS) compliance, and VAT deferment to help businesses operate smoothly and efficiently.
- Why It’s Important
Value Added Tax (VAT) is a crucial aspect of business taxation that affects both local and international transactions. Proper VAT management ensures:
Avoiding legal issues and financial penalties by meeting Uganda Revenue Authority (URA) VAT regulations.
Ensuring businesses remain VAT-compliant to avoid disruptions and audits.
Proper VAT filing and invoicing contribute to transparent financial records.
Understanding VAT deferment helps businesses improve liquidity and reduce immediate tax burdens.
Businesses using the EFRIS system benefit from digital records, ensuring accountability and reducing tax fraud risks.
Our Approach
- We offer specialized services to ensure your business stays compliant with VAT regulations while optimizing tax efficiency. Our expertise covers:
VAT Services
VAT registration and deregistration assistance.
Filing of monthly and annual VAT returns.
Advisory on VAT input claims and tax credits.
EFRIS Compliance
Guidance on EFRIS system setup and integration.
Ensuring accurate digital invoicing and record-keeping.
Training businesses on EFRIS compliance and reporting.
VAT Deferment Services
Advisory on eligibility for VAT deferment.
Application support for deferment benefits.
Ensuring compliance with deferred VAT repayment schedules.
Key Benefits
Partnering with Ssentumbwe Samson for VAT, EFRIS, and VAT deferment services provides:
- Full Compliance with URA Regulations – Avoid fines and penalties by ensuring timely and accurate VAT reporting.
- Improved Cash Flow Management – Leverage VAT deferment options to reduce immediate tax burdens.
- Efficient Digital Invoicing with EFRIS – Stay ahead of digital tax compliance with automated reporting.
- Transparent Financial Records – Ensure accountability and accuracy in tax documentation.
- Expert Guidance on VAT Refunds & Credits – Maximize your VAT input claims for better financial outcomes.
- Custom Solutions for Businesses – Tailored VAT strategies that align with your business operations.
Our process
We follow a structured approach to ensure our clients receive seamless VAT solutions:
Initial Consultation:
Understanding your VAT obligations and business requirements.
Assessment & Registration:
Evaluating eligibility and assisting with VAT/EFRIS registration.
VAT Compliance Planning:
Implementing best practices for VAT filing and deferment strategies.
Implementation & Reporting:
Filing VAT returns, issuing EFRIS-compliant invoices, and ensuring timely reporting.
Ongoing Monitoring & Advisory:
Continuous support to ensure your business remains VAT-compliant.
FAQs
Q: Who is required to register for VAT?
A: Any business with an annual taxable turnover exceeding UGX 150 million must register for VAT with the URA.
Q: What happens if my business fails to comply with EFRIS?
A: Non-compliance with EFRIS can result in penalties, business audits, and legal action by the URA.
Q: How does VAT deferment benefit my business?
A: VAT deferment allows businesses to delay VAT payments on specific transactions, improving cash flow management.
Ensure VAT Compliance & Optimize Your Tax Strategy
Let Ssentumbwe Samson help you navigate VAT regulations, EFRIS compliance, and VAT deferment for maximum efficiency and compliance.
