Uganda Revenue Authority (URA) has named the top 25 individuals and 25 non-individuals at its list of leading rental income taxpayers.
Top of the list is Meera Investments, a real estate company owned by businessman Sudhir Ruparelia.
Meera Investments LTD embraces effective and efficient solutions in all aspects of property development from design to finish to achieve maximum usage and productivity, which makes it the biggest landlord and the leading property developer.
Other top rental income taxpayers are; Golf Course Group Limited, BIDCO Uganda Ltd, British American Tobacco Uganda, Jubilee Investments Company, Capital Shoppers Limited, Megha Industries and Mukwano Industries to mention but a few.
Sudhir also comes second among the top 25 individual rental income taxpayers, according the URA’s list.
He is the owner of Kabira Country Club, Speke Apartments, Dolphin Suites, Munyonyo Commonwealth Resort, Forest Cottages, Kabira Country Club, Victoria University, Kampala Parents School and Kampala International School.
Commenting on the trend, URA Commissioner General, Doris Akol, said Uganda’s real estate sector has steadily grown over the years.
The sector contributes 0.20 percent to GDP and a significant amount to domestic revenue. In 2016, the sector registered a 12 percent revenue growth which has greatly contributed to their tax to GDP.
Describing Sudhir serve as role model, Akol urged other rental income tax payers to pay on time and voluntarily.