Uganda Revenue Authority (URA) has begun receiving financial data from foreign jurisdictions in a bid to tight mark taxpayer compliance home and abroad.

Speaking at an Automatic Exchange of Information (AEOI) Awareness and Voluntary Disclosure of Foreign Assets breakfast meeting at Mestil Hotel today Monday, March 2nd, 2026 URA Commissioner General John Rujoki Musinguzi revealed that in September 2025, the authority received financial information on 100,000 Ugandan tax residents from 50 jurisdictions under the AEOI framework.

Global tax compliance involves adhering to tax regulations across multiple countries. For multinational companies, managing compliance is often complex, as tax rules, currencies, and transfer pricing vary widely between jurisdictions.

Rujoki said the development marks a significant shift in tax enforcement, warning that foreign financial information can no longer be concealed.

“This will promote fairness by ensuring all taxpayers, whether domestic or abroad, are treated equitably, cooperation under the AEOI programme is intended to benefit both tax authorities and compliant taxpayers.” Rujoki said

According to Rujoki, as result of AEOI program more than 125 countries worldwide are now exchanging financial information on tax residents under the Automatic Exchange of Information (AEOI) programme, tightening scrutiny on offshore assets and foreign income.

The breakfast meeting was organized to raise awareness about the initiative and encourage voluntary disclosure of foreign assets before enforcement measures intensify.

Ag Commissioner of Tax Investigations, Agnes Nabwire Asobola, outlined how foreign income is treated under Ugandan law. She explained that income held in foreign accounts may be exempt if it has already been taxed in another jurisdiction. Taxpayers may also qualify for foreign tax credits.

However, she emphasized that dividends, interest, rent and other foreign-sourced income form part of a taxpayer’s gross income and are subject to taxation in Uganda.

The AEOI framework allows participating countries to automatically exchange financial account information annually, targeting tax evasion and increasing transparency across borders.

With Uganda now actively receiving data from dozens of jurisdictions, officials say the era of undisclosed offshore accounts is rapidly closing, and taxpayers are being urged to regularize their tax affairs.