Uganda Revenue Authority orders banks to surrender customers account details

A copy of Uganda Bankers Association letter protesting revenue authority's order to provide customers bank details

NAIROBI, KENYA: Uganda Bankers Association has locked horns with the country’s revenue authority following order on customers’ bank details.

It started with Uganda Revenue Authority writing to commercial banks to furnish all the information the banks hold on their customers.

According to the request all the commercial banks are supposed to send records of all the financial records they hold on all Uganda’s banked population.  URA has requested for information such as the account name, tax Identification Number, and the national identification number.

Other information asked for include address, telephone number, email address and the total cash deposits into account for the period January 2016 to December 2017

Also the total cash withdrawals from account for the period January 2016 to December 2017 and current balance on that account as of today is needed.

But in a letter to the taxman dated March 22, Uganda Bankers Association told off the tax man reminding URA of acts that require banks not to disclose such crucial details.

“We refer to your letter to all member banks regarding disclosure of customer information,” said Wilbrod Humphreys Owor. “In the circumstances, banks are constrained to act pending directions from the regulator.”

By David Njaaga 47 mins ago
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