On June 23rd,2023, the H.E the President of Uganda assented to the bill of the Convention on Mutual Administrative Assistance in Tax Matters (Implementation) Act, 2023. The Act came into force on 1st July 2023 and it is to give the force of law in Uganda to the Convention on Mutual Administrative Assistance in Tax Matters; the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information; the Standard for Automatic Exchange of Financial Account Information in tax matters; and for related matters.
All things considered, the Convention on Mutual Administrative Assistance in Tax Matters accelerates international cooperation for a better operation of national tax laws at the same time respecting the fundamental rights of taxpayers.