The ministry of finance is considering taxing Ugandans withdrawing money from their accounts in commercial banks.
This is shown in a letter authored by Patrick Ocailip, the deputy secretary, treasury at the finance ministry, and addressed to Emmanuel Tumusiime Mutebile -Governor, Bank of Uganda.
In the letter dated 9th Feb 2020, the finance ministry says it was suggested during a meeting on 5th Feb 2021 that the tax base be diversified to include commercial bank cash withdraws.
The meeting was attended by a section of key government sectors including Uganda Revenue Authority-URA, Bank of Uganda-BOU, Uganda Communications Commission-UCC, and telecom companies.
Therefore the letter further seeks to be availed with data of all sorts of cash withdraws dating back to 3 financial years ago for review.
It also seeks advice from the BOU boss Mutebile on the way forward.
The letter also raises growing concern on how various bank withdraws such as ATM, teller, and agency are being overlooked while telecom companies have been explored already by taxing Mobile Money withdraws at 0.5percent.
