The Ugandan government, through the Ministry of Trade, Industry, and Cooperatives, has urged Eastern region businesspeople to register their businesses and companies for identification purposes.
The call was made by Doecrecious Masagali, Undersecretary, representing the Permanent Secretary, during a one-day engagement with business community members, district commercial officers, and chief administrative officers from various districts in the Eastern region at Wash and Wills Hotel in Mbale city’s Industrial division.
Masagali cited challenges faced by the government with unregistered businesses, noting that registration with the Uganda Registration Services Bureau (URSB) facilitates taxation and other collections.
According to Masagali, the government is currently facing challenges with businesses and companies that are not registered with the Uganda Registration Services Bureau (URSB), which hinders taxation and other collections. He says government-registered businesses have advantages like compensation in case of calamities, citing the recent Kampala city floods that swept away goods.
Samuel Wamimbi, a Mbale city businessman, welcomes the engagement, saying they’ve learned a lot. He urges the government to regulate rising fuel prices, warning it will hike goods prices and hurt their business.
Sadik Wamimbi attributes low registration rates among businesses to excessive bureaucracy, making implementation difficult. URN