The Minister of Justice and Constitutional Affairs, Norbert Mao, has suggested that the Uganda Registration Services Bureau (URSB) streamline its registration system. This recommendation aims to assist the URSB in achieving its non-tax revenue target of Shs90 billion by making it easier for small businesses to compete with larger ones.
Mao made these remarks during the launch of the Mass Business Registration Strategy, known as “KIRI EASY FORMALIZE TODAY.”
While Uganda has made significant improvements in business formalization, more than 53 percent of business operators continue to operate informally, which hampers the non-tax revenue target.
To address this issue, the Uganda Registration Services Bureau has introduced a mass business registration strategy. The goal is to raise awareness among business owners in the private sector and encourage them to formalize their businesses.
Speaking about the initiative, Kainobwisho stated, “This unveiled initiative is designed to cater to everyone, whether in villages or towns, whether you have a small or large business. The common objective is formalization.”