Government Applauds DTS for Boosting Tax Compliance
The Ministry of Finance's Principal Economist, Mr. Isaac Arinaitwe, highlighted that the program, introduced in 2019, has played a crucial role in improving tax transparency and supporting legitimate businesses.
The Ugandan government has expressed satisfaction with the impact of the Digital Tax Stamps (DTS) program on enhancing tax compliance and market integrity.
The Ministry of Finance's Principal Economist, Isaac Arinaitwe, highlighted that the program, introduced in 2019, has played a crucial role in improving tax transparency and supporting legitimate businesses. By tackling counterfeit goods and ensuring fair competition, DTS has benefited both the government and the private sector.
Among the key benefits, DTS has effectively reduced tax evasion and increased revenue collection. The program has helped to curb the proliferation of counterfeit goods, protecting genuine brands and consumer interests. Also, by ensuring a level playing field, DTS has promoted fair competition among businesses.
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The Uganda Revenue Authority (URA) has also praised the success of the DTS program, noting that it has significantly reduced non-compliant products in the market. Commissioner General John Musinguzi Rujooki emphasized that the program has not only increased revenue but also created a more equitable market for compliant businesses.
The government is committed to further optimizing the DTS program and reducing costs for businesses. The Ministry of Finance is finalizing negotiations with the DTS provider to implement further cost reductions, particularly for the wine and spirits industry.
By embracing technology and innovative solutions, the Ugandan government aims to create a conducive business environment, promote economic growth, and ensure sustainable development.
