Absa Bank Uganda Limited v Uganda Revenue Authority (TAT Application 57 of 2021)
Absa Bank Uganda Limited v Uganda Revenue Authority (TAT Application 57 of 2021) [2023] UGTAT 8 (22 November 2023)
The Tribunal found that the applicant was liable for the tax assessments issued by the respondent. On WHT for nostro charges, the Tribunal held that the applicant, as the payer of management charges to foreign banks, was obliged to withhold tax under Ugandan law, regardless of whether the charges were passed on to customers. For VAT on initial customer deposits, the Tribunal determined that since the applicant claimed input VAT on the full invoice amount, it must also account for output VAT on the same amount, including initial deposits paid by customers to suppliers. Regarding disallowed int…
Source excerpt
- Vat Assessment
- Withholding Tax Obligation
- Input Output Vat Claims
- Interest Expense Deduction
- International Bank Charges
- Accounting Methods Tax