By our reporter

Last month, Uganda Revenue Authority (URA) requested all banks to avail it with detailed accounts information for their customers.

In the letter dated March, 16, 2018, and copied to all banks in Uganda, URA seeks to obtain information on account holders from January 2016 to December 2017, Telephone numbers, email addresses, the total cash deposits to these accounts in the above mentioned period, their withdraws and balance, their Tax Identification Numbers and National Identification Numbers.

However, in response, banks have declined to fulfill URA’s demand pending clearance from Bank of Uganda.

“Member Banks have brought this matter to the attention of the regulator to provide guidance,” stated Uganda Bankers Association (UBA) Executive Director Wilbrod Humphrey Owor.

“In the circumstances, Banks are constrained to act, pending directions from the Regulator.” He added.

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