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UGANDA: Bankers Association to protest URA request for bank accounts

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Uganda Bankers Association to file petition against URA’s request for account holder’s information

KAMPALA (NTV) – According to URA letters dated 16th March, 19th March and 29th Mrch 2018 and addressed to Uganda Bankers Association, the request comes on the basis of section 42 of the Tax Procedures Act 2014.

A document released by the Uganda Bankers Association this afternoon protesting URA’s request to have them submit information on accounts held in the years 2017/2018
The Uganda Bankers Association is set to file a petition to the Constitutional court challenging the constitutionality of the request by Uganda Revenue Authority to obtain information on all accounts held for the years 2016 and 2017According to URA letters dated 16th March, 19th March and 29th Mrch 2018 and addressed to Uganda Bankers Association, the request comes on the basis of section 42 of the Tax Procedures Act 2014.

“The request of information contained in the notices raises a number of legal issues concerning the constitutionally protected fundamental rights which could expose the member financial institutions to legal liability…” reads part of the statement released by UBA this afternoon.

The document which was signed by both the Association Chairman Fabian Kasi and the Executive Director Wilbrod Humphreys Owor also revealed that member financial institutions are equally concerned about the possible and wider impact this could trigger.

The Association also says members are currently holding consultations with various authorities and stake holders including Bank of Uganda and URA to settle the matter.

AUTO – GENERATED; Published (Halifax Canada Time AST) on: April 09, 2018 at 11:16AM

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