Meera Investments Limited run by the Ruparelia Group of tycoon Sudhir Ruparelia has topped the list of 25 rental income taxpayers in Uganda, according to the latest statistics released by the Uganda Revenue Authority (URA) Commissioner General Doris Akol.
Meera Investments Limited has built a reputation with its innovative ideas in real estate, particularly in property development and construction, throughout Kampala.
In the five top companies Meera Investments is followed by Golf Course Group Limited, BIDCO Uganda Limited, British American Tobacco and the Jubilee Investments Company.
Meanwhile, the Chairman/Managing Director of Meera Investments, Sudhir Ruparelia is the second rental income taxpayer in the group of 25 individuals listed by the URA, only beaten by Alnasir Virani Gulam Hussein Habib. Others who form the top five individual rental income taxpayers are Mohamed Hussein, Virani Amin and Janat Nakayima.
According to Ms Akol, the real estate sector contributes 0.20 percent to GDP and a significant amount to domestic revenue. In the past year, she said, the sector registered a 12 percent revenue growth.
“…these role models, come forth, declare and pay your taxes voluntarily as we develop Uganda together,” Ms Akol implores other players in the rental real estate sector.