By Kamugisha Kabahweza Allan
Uganda Revenue Authority has called on auditors to sensitize their clients on the Automatic Exchange of Information (AEOI) and voluntary disclosure programs.
Speaking to the Auditors at the URA headquarters in Nakawa yesterday, Julius Nkwasire ,the Ag. Commissioner Tax Investigation told the auditors to engage their clients on the programs before AEOI comes into effect on 1st September 2025.
“We have identified you, as one of the key stakeholders to initiate discussions about the requirements and obligations under the AEOI and to also invite you to encourage all resident taxpayers who may hold offshore financial accounts and assets to come forward and disclose voluntarily to avoid penalties,” said Nkwasire.
He also rallied the auditors to join the fight against money laundering.
“Since the world has become a global village when bad money enters our economy, good money gets out of the economy. Let us walk the journey of compliance together to develop our country,Nkwasire added.
AEOI is an international framework through which competent authorities exchange information for tax purposes under an international legal framework.
Uganda joined the Organization of Economic Co-operation and Development (OECD), a global policy forum that promotes policies (including AEOI) to improve the economic and social well-being of people in 2012.
In 2014, it began the exchange of information on request.
According to David Dongo, the Ag. Manager AEOI at URA since 2014, Uganda has managed to recover over UGX300 billion in taxes through the exchange of information on request.
