The Uganda Revenue Authority (URA) has directed financial institutions falling under the Automatic Exchange of Information (AEOI) framework, urging them to submit their annual returns before the May 31, 2025 deadline or risk penalties under the law.
In an official public notice, URA reminded Deposit-taking Institutions, Custodial Institutions, Investment Entities, and Specified Insurance Companies of their legal obligation to comply with Section 6(1) of the Convention on Mutual Administrative Assistance in Tax Matters (Implementation) Act, 2023.
“A Reporting Financial Institution shall submit a return to the Competent Authority providing information on the account held by a non-resident person or on a reportable account for the year ending December 31st in every calendar year and by the 31st day of May of the following year,” the notice reads in part.
This mandate, according to URA, is aimed at promoting global tax transparency and tackling cross-border tax evasion. Reporting Financial Institutions must file their returns for the 2024 calendar year through the designated online portal at https://aeoi.go.ug, accessible only to institutions that have submitted and been whitelisted with their IP addresses.
URA warns that starting June 1, 2025, failure to comply with this requirement will result in penalties as stipulated in the 2023 Act.
In an effort to support institutions in navigating the filing process, URA has provided a dedicated contact line and email for inquiries: aeoi_inquiries@ura.go.ug or Tel: +256 417 442 221.
As Uganda strengthens its international tax cooperation mechanisms, URA emphasized its commitment to integrity and transparency in the financial sector.
“This is a crucial step toward aligning Uganda with global standards on financial transparency. We call upon all Reporting Financial Institutions to act swiftly and responsibly,” the Authority said.
