The Uganda Revenue Authority (URA) has directed all Ugandan tax residents with undeclared foreign income or assets to regularize their tax affairs before enforcement begins under new international information-sharing rules.
This follows the implementation of the Convention on Mutual Administrative Assistance in Tax Matters (MAAC) Implementation Act, Cap. 335, enacted 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.
URA says that starting this year, it has begun receiving detailed financial records from overseas financial institutions. The authority notes that similar information-exchange systems in other countries have uncovered significant undisclosed offshore wealth.
In a statement, URA Management said, “In line with our commitment to encouraging voluntary compliance, URA is giving affected tax residents the opportunity to correct any errors or omissions in their previous returns before the information is used for audit or investigation.”
To benefit from the favorable terms, taxpayers are required to complete the voluntary foreign asset disclosure form on the URA portal and amend their tax returns for the past three years in accordance with the law.
The authority stresses that relief will only apply where accurate and complete information is disclosed before it is detected or before an audit begins.
URA cautions that failure to voluntarily declare may lead to penalties once auditors begin reviewing the new international data stream.
The notice, first published on November 25, 2025, reaffirms the authority’s commitment to transparency and national development.
“Developing Uganda Together,” URA Management stated.
