Sign up for tax alert emails    GTNU homepage    Tax newsroom    Email document    Print document    Download document

June 19, 2024

Uganda Revenue Authority updates portal enabling financial statement uploads

The Uganda Revenue Authority (URA) has updated its web portal to include a new feature to enable taxpayers to upload their signed audited financial statements when filing the final income tax return. This update on the web portal is intended to operationalize Section 16(5) of the Tax Procedures Code Act (TPCA), which requires taxpayers with an annual turnover of 500 million Ugandan shillings (UGX 500m) to furnish, with the taxpayer's return of income, audited financial statements prepared by an accountant registered by the Institute of Certified Public Accountants of Uganda (ICPAU).

Section 49A(2) of the TPCA provides that a person who fails to provide the commissioner with certain information upon request (i.e., information other than transfer pricing records) is liable for a penal tax of UGX20m. (Failure to timely provide transfer pricing records carries a UGX50m penalty.)

Although uploading financial statements onto the web portal when filing annual income tax return does not currently appear to be mandatory, it seems likely that any URA officer assigned to approve a filed tax return would require a taxpayer to either upload or submit a copy of the audited financial statements. Therefore, taxpayers should consider fast-tracking their statutory audit process to ensure audited financial statements are available when they file the income tax return.

It is crucial to maintain audited financial statements and have them ready for upload on the URA web-portal to ensure compliance with tax laws. Note that the portal also enables the URA to perform quick spot checks to assess whether a taxpayer's tax obligations are in good standing. Taxpayers should take note of the new portal to avoid any unnecessary penalties or adverse legal implications.

* * * * * * * * * *
Contact Information

For additional information concerning this Alert, please contact:

Ernst & Young (Uganda), Kampala

Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.


Copyright © 2024, Ernst & Young LLP.


All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.


Any U.S. tax advice contained herein was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions.


"EY" refers to the global organisation, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.


Privacy  |  Cookies  |  BCR  |  Legal  |  Global Code of Conduct Opt out of all email from EY Global Limited.


Cookie Settings

This site uses cookies to provide you with a personalized browsing experience and allows us to understand more about you. More information on the cookies we use can be found here. By clicking 'Yes, I accept' you agree and consent to our use of cookies. More information on what these cookies are and how we use them, including how you can manage them, is outlined in our Privacy Notice. Please note that your decision to decline the use of cookies is limited to this site only, and not in relation to other EY sites or Please refer to the privacy notice/policy on these sites for more information.

Yes, I accept         Find out more