Uganda Revenue Authority (URA) has ranked Meera Investments LTD owned by Sudhir Ruparelia as the best non-individual rental income taxpayer in Uganda.
Sudhir Ruparelia came second after Mr Alnasir Virani Gulam Hussein Habib on the top 25 individual rental income taxpayers list issued by the revenue body on Tuesday.
Doris Akol the URA Commissioner General, in the statement, noted that Uganda’s real estate sector has steadily grown over years.
“In the past year the sector has registered a 12% revenue growth and this has greatly contributed to our tax-to GDP,” said Akol.
“The sector contributes 0.20% to GDP and a significant amount to domestic revenue,” she noted.
The URA Commissioner General encouraged all the other players in rental real estate to emulate these models, come fourth, declare and pay their taxes voluntarily for a developed Uganda.
Other top non-individual rental income taxpayers include Golf Course Group Limited, BIDCO Uganda Ltd, British American Tobacco Uganda, Jubilee Investments Company, Capital Shoppers Limited, Megha Industries and Mukwano Industries among others.
Other individual rental income taxpayers include Mr Mohamed Hussein, Mr Godfrey Kirumira, Mr Virani Amin among others.
URA identifies these top 25 as role models for ontime rental income tax declarations and payments.
