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The Uganda Revenue Authority recently issued Public Notices and targeted email inquiries requiring tax-resident persons with offshore income and assets to report that income in Uganda and thereby regularise their tax compliance records. This reflects Uganda’s position as a member of the global forum on tax transparency, which promotes administrative cooperation through exchange of information initiatives for tax purposes and assistance in the recovery of taxes.
18 December 25
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Beyond bilateral arrangements based on double tax treaties, a multilateral approach has been adopted through which several countries cooperate in exchange for information, on a mutual and simultaneous basis, relating to their tax residents, which information may disclose foreign income from those countries.
In this legal alert, we explore Uganda’s evolving tax transparency framework, what it means for residents with foreign income, and how to navigate the risks of double taxation.
Click here to download and read the full alert.
Should you have any questions regarding the information in this legal alert, please do not hesitate to contact Edward Balaba or Flavia Suubo.