Uganda Revenue Authority has named Vivo Energy Uganda, which markets and distributes 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 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 and 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.
URA’s initiative is supported by TradeMark East Africa and seeks to enhance trade by reducing business costs through simplifying customs procedures.
Vivo Energy enrolled under the AEO Program in 2019 and was recognized as a leader after contributing Shs1.2 trillion to date.
On behalf of Vivo Energy Uganda Managing Director Johan Grobbelaar, Samuel Bukenya, the Transport and Logistics manager at Vivo Energy Uganda, accepted the certificate of recognition and plaque from John Musinguzi, the Commissioner General at URA, at the Authorized Economic Operator Conference held at Speke Resort Munyonyo on November 11.
Grobbelaar said: “The management and staff of Vivo Energy Uganda would like to express their gratitude for the recognition. We are honored to receive this accolade, following our enrollment in the AEO Program in 2019 and constantly leading in the tax contribution to Uganda Revenue Authority to date.”
He added: “We appreciate your outstanding relationship and want to reassure you that we will continue to fulfill 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 endeavors.”
Musinguzi said: "AEOS have eased the cost of doing business, boosted business turnover, trust, and facilitated international trade."
He committed to ensuring that URA eases customs clearance processes to facilitate international trade to transform the economy.