Taxes On Bank Withdrawals Cant Be Imposed Without Parliament Approval, Bahati

Posted by: Suubi Anne in Finance February 12, 2021

Hon. David Bahati, The Minister of state for finance has assured Ugandans that taxes on bank withdrawals are not yet imposed. This is because for the taxes to be imposed, Parliamentary approval is needed. This response came as a result of a complaint raised by the Kassanda North MP, Hon. Patrick Oshabe. Oshabe said there was a plan to impose a tax on bank withdrawals after a meeting held at parliament yesterday.

“The Minister of Finance should come and clarify the matters that are going on. Why should the government be planning to raise revenue on already taxed money?” Hon. Patrick asked.

However, while responding to this, Bahati said the letter request for these tax imposition was authored by Deputy Secretary to the Treasury. It was inviting the governor of the central bank to consult on an internal engagement with the Finance Ministry. He insisted that It was not a proposal by law and it was not to the House and has no connection to the House.

Meanwhile, no one welcomed this idea because it is clearly unrealistic.

“It’s unfair that the government is thinking of such action especially when the country is recovering from Covid-19. The Minister should be stopped before the taxes take shape,” Hon. Elijah Okupa said.

This would be so horrible if approved by parliament because obviously, no Ugandan is willing to take it in. There is no doubt that even banks will be affected because they will lose customers.

Well, we are patiently waiting for how our MPs will represent us.

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