URA Directs Ugandans to Declare Global Income as Foreign Asset Crackdown Begins URA has begun demanding full disclosure of offshore income and assets from Ugandan tax residents, marking a new era of global tax enforcement. With data now flowing in from more than 125 jurisdictions, non-compliant taxpayers face steep penalties, criminal exposure and urgent deadlines to regularise their affairs.

Uganda Revenue Authority (URA) has launched a sweeping enforcement campaign requiring all Ugandan tax residents with foreign bank accounts, property, or investments to immediately declare their worldwide income and assets, according to a new Tax Alert on Global Income Declaration issued by Grant Thornton.   The development follows Uganda’s implementation of the Convention on Mutual Administrative Assistance in Tax Matters (MAAC), which now allows URA to automatically receive financial data on Ugandan residents from more than 125 countries. These jurisdictions include Mauritius, the Cayman Islands, Jersey, US, UK and India. With this global information-sharing system in place, Ugandans with undisclosed…