The Uganda Revenue Authority (URA) is taking proactive steps to strengthen its ability to combat international tax evasion and illicit financial flows. A team of experts from the Organization for Economic Co-operation and Development (OECD) recently conducted a three-day onsite assessment of URA’s Information Security readiness.
This assessment evaluates Uganda’s capability to securely manage taxpayer information in accordance with international standards. It examines various aspects such as laws, policies, systems, technology, processes, and procedures. The goal is to ensure that URA can effectively handle financial information received from over 120 countries regarding Ugandan taxpayers with assets abroad.
Denis K. Kateeba, the Commissioner of Tax Investigations, emphasized the significance of this peer review in implementing the Automatic Exchange of Information (AEOI) program. AEOI is a crucial intervention in the Domestic Revenue Mobilisation Strategy (DRMS) aimed at tackling illicit financial flows.
Through the AEOI program, URA aims to:
- Combat international tax evasion.
- Detect illicit financial flows.
- Address transfer pricing issues.
This initiative will enhance cooperation with other tax jurisdictions and expand URA’s sources of information, including traditional sources like banks and non-traditional sources like e-commerce. The objective is to detect evasion and identify new taxpayers effectively.
Commissioner General John R. Musinguzi praised the review, highlighting its importance in preparing URA to securely access, store, and use data within the organization and with its partners. He emphasized the crucial role of data in the digital age, stressing the need to uphold trust, privacy, and security standards.
