Uganda Revenue Authority names Vivo Energy Uganda its “Top Revenue Generating AEO”
Kampala: The Uganda Revenue Authority has named Vivo Energy Uganda, the marketer and distributor of Shell fuels and lubricants, as the “Top Revenue Generating Authorized Economic Operator (AEO)”.
AEO is a regional trade facilitation programme recommended by the World Customs Organization (WCO) to ease trade and customs clearance for tax-compliant importers and exporters.
AEOs are therefore businesses certified by customs administrations to do self-assessments in compliance with customs rules, under the World Customs Organisation supply chain security standards.
An AEO is a company highly trusted by the revenue body-that even with less surveillance, such a company is expected to assess itself and willfully pay taxes. The companies are also able to self-regulate, self-assess, and work seamlessly with URA regarding their operations. The URA’s initiative is supported by TradeMark East Africa and seeks to enhance trade by reducing business costs through simplifying customs procedures.
Vivo Energy Uganda, which enrolled under the AEO Program in 2019 and was recognized as leader in the financial contribution to Uganda Revenue Authority tax contribution to the tune of Uganda shillings 1.2 trillion to date.On behalf of Mr. Johan Grobbelaar, the Managing Director, Mr. Samuel Bukenya, the Transport and Logistics Manager at Vivo Energy Uganda, accepted the certificate of recognition and plaque from Mr. John Musinguzi, the Commissioner General at URA, at the Authorized Economic Operator Conference held at Speke Resort Munyonyo on November 11, 2022.
In his remarks, Mr. Grobbelaar expressed his heartfelt gratitude to URA for the recognition.“The management and staff of Vivo Energy Uganda would like to express its gratitude for the recognition. We are honoured to receive this accolade, following our enrollment in the AEO Program in 2019 and constantly leading in the tax contribution to Uganda Revenue Authority todate,” he said.
Adding, “We appreciate your outstanding relationship and want to reassure you that we will continue to fulfil our tax commitments to support the increase of tax income and your overall objectives. We look forward to a stronger partnership in 2023 and wish you success in all your endeavours.”
Speaking at the awarding ceremony, Mr. Musinguzi, said AEOS have eased the cost of doing business, boosted business turnover, trust, and facilitated international trade. On his part, he committed to ensure that URA eases customs clearance processes to facilitate international trade to transform the economy.
Mr. Musinguzi thanked the AEOs for their contribution towards growing Uganda’s economy, while citing the Uganda shillings 594 trillion combined remittances that form 42% of URA’s total customs revenue of Uganda shillings 8.444 trillion.
At the ceremony, over twenty-four tax compliant companies were awarded AEO status, bringing the total number of AEOs in Uganda to 118 currently. ENDS.