Dear Valued Customer,
We wish to inform you that in the National Budget 2014/2015, the Government of Uganda have introduced 10% Excise duty (Tax) on service fees charged by Commercial Banks.
The service fees to be taxed under the Excise Tariff (Amendment) Bill include: Ledger fees, ATM fees, withdrawal fees and periodic charges and other transaction and non transaction charges excluding loan related charges periodically charged by financial institutions.
Bank of Baroda (Uganda) Ltd wishes to notify its customers that the 10% Excise Duty on all such service fees will be collected and remitted to the Uganda Revenue Authority with effect from 1st July, 2014.
A public notice to this effect has already been published by UBA (Uganda Bankers Association) on behalf of we member Banks on 24th July, 2014.
For further enquiries, you may contact any of our branches or at our mail id email@example.com.
Bank of Baroda Management