Uganda Takes Major Step towards Tax Transparency

By Teddy Namayanja 

In a significant move towards enhancing tax transparency and cooperation, the Uganda Revenue Authority (URA) Tax Investigations team met with various Ministries, Departments, and Agencies (MDAs) on October 8, 2024 to review and prepare a consolidated position for the country’s 2nd Round Peer Review Report. This report will be presented at the upcoming Organization for Economic Cooperation and Development (OECD) – Global Forum on Transparency and Exchange of Information for Tax Purposes meeting in Paris later this month.

Since joining the OECD’s Global Forum in 2012, Uganda has been committed to fostering cross-border information exchange among tax jurisdictions. This collaboration aims to enhance transparency and cooperation in tax processes, ultimately helping the country recover vital revenues.

The Global Forum’s primary objective is to ensure rapid and effective implementation of standards on transparency and exchange of information for tax purposes. Uganda’s participation demonstrates its dedication to upholding these standards and promoting international cooperation.

Key Goals of the Meeting:

• Review and Prepare Consolidated Position: Finalize Uganda’s 2nd Round Peer Review Report on Exchange of Information on Request

• Enhance Tax Transparency: Foster cross-border information exchange among tax jurisdictions

• Recover Key Revenues: Boost cooperation in tax processes to benefit Uganda’s economy

By actively engaging with the Global Forum and participating in peer reviews, Uganda reaffirms its commitment to transparency and cooperation in tax matters. This collaboration will undoubtedly contribute to the country’s economic growth and development.