EFRIS has several benefits to the end user. Several myths have been said about EFRIS, however in this article we bring facts about it.
Taxpayers will be in a position to track and validate business transactions in real time for efficient business management;
Pre-filled tax returns hence minimizing delays and costs involved in filing tax returns;
Shortened duration taken to conduct URA audits and return examinations;
Make fair assessments of taxpayers’ tax positions and reduce unfair competition;
Faster processing of refund claims including exiting tourists/ foreign nationals on short stay. Information is available in the system; and
Better record keeping