URA Directive to Banks to Surrender Customers' Details Could Cause Acute Inflation


URA ‘s directive to commercial banks to surrender customers information is likely to have adverse effect on the economy including inflation, a commercial lawyer Julius Galisonga has warned. Galisonga explains that much as the directive is mandated under section 42 of the constitution, the population will resort to piggy banks and hence inflation. The commercial lawyer highly doubts that URA’S approach will improve on its tax administration.