Overview:
Authorities say similar information-sharing arrangements in other countries have exposed significant amounts of unreported offshore income and assets.
The Uganda Revenue Authority (URA) has issued a public notice calling on Ugandan tax residents with undisclosed foreign assets or income to take advantage of a new voluntary disclosure window before enforcement begins.
The notice follows Uganda’s implementation of the Convention on Mutual Administrative Assistance in Tax Matters (MAAC) Implementation Act, Cap. 335, which came into force on July 31, 2023. The law allows Uganda to access financial and asset information from 125 countries where Ugandan residents may hold income or property.
Beginning this year, URA will start receiving detailed financial information from overseas financial institutions about Ugandan tax residents. Authorities say similar information-sharing arrangements in other countries have exposed significant amounts of unreported offshore income and assets.
Given the sensitivity and potential penalties involved, URA is offering affected taxpayers an opportunity to regularize their affairs before audits or investigations begin. The reminder also aligns with the authority’s earlier communication on December 20, 2024, encouraging voluntary compliance.
To benefit from the favorable terms, taxpayers must:
- Complete a voluntary disclosure form for foreign assets and income through the URA online portal.
- Amend tax returns for the past three years in accordance with Section 25(3) of the Tax Procedures Code Act, Cap. 343.
URA emphasizes that the relief applies only to individuals who disclose accurate and complete information before it is uncovered by a tax officer.
The authority warns that non-compliance not only breaches tax laws but could lead to penalties once audits begin, given that the new international data-exchange system will reveal undisclosed offshore holdings.
For inquiries, URA has directed the public to reach them via email at services@ura.go.ug, toll-free lines 0800117000 / 0800217000, or WhatsApp at 0772140000.
The notice, published on November 25, 2025, reaffirms URA’s commitment to transparency and voluntary compliance under the banner “Developing Uganda Together.”