Meera Investments Limited, a subsidiary of the Ruparelia Group, tops the list of 25 compliant companies that were ranked best by the Uganda Revenue Authority (URA) in paying rental income tax in the financial year 208/19 that saw the Authority beat the target by Shs258.89 billion to collect a total of Shs16.6 trillion in taxes to government.
URA’s public notice does not however show the exact amount of money that each of the top 25 companies paid as rental income tax during that year.
According to its website, Meera Investments embraces effective and efficient solutions in all aspects of property development from design to finish, achieving maximum usage and productivity, which makes it the biggest landlord and the leading property developer.
“Our track record clearly shows our vision and our commitment towards national economic and social development. This has been built through many years of outstanding quality and integrity in the market of commercial and residential developments in the real estate industry,” it says on its website.
Other companies that performed well in paying rental income tax are; Golf course group limited, Bidco Uganda limited, British American tobacco Uganda, The Jubilee Investments Company, PDM Uganda Limited, Capital Shoppers Limited, Megha industries Uganda limited andMukwano Industries (U) Limited.
Meanwhile the Chairman of Ruparelia Group Sudhir Ruparelia came in second position among the top 25 individual rental income taxpayers in the country in the same year 2018/19. He was beaten by businessman Alnasir Viran Gulam Hussein Habib on the list that does not also the exact amount of money that each of the individuals paid.
According to URA Commissioner General Doris Akol, Uganda’s real estate sector has steadily grown over the years, contributing 0.2 percent to GDP in the last financial year. In the past year, the sector has registered a 12 percent revenue growth and this has greatly contributed to our tax to GDP.
“We therefore encourage all other players in the rental real estate to emulate those models, come forth, declared and pay taxes voluntarily as we develop Uganda together,” she said in the latest public notice.
“On that note URA is celebrating the top 25 individual and 25 non individual rental income taxpayers who serve as role models for on time rental income tax declarations and payments,” she said.
Below is the list of the top 25 non-individual rental income tax payers in financial year 2018/19.
- Meera investments Limited
- Golf course group limited
- Bidco Uganda limited
- British American tobacco Uganda.
- The jubilee Investments company
- PDM Uganda Limited
- Capital Shoppers Limited
- Megha industries Uganda limited
- Mukwano Industries (u) Limited
- KIBAO Investments Company Ltd
- TPS (U) Ltd
- Uganda development bank Uganda Ltd
- Tembo steels (U) Ltd
- International Holdings Uganda Ltd
- Imperial group of hotels Ltd
- UAP old Mutual Insurance Uganda Ltd
- Shoprite Checkers Uganda Limited
- White snow man’s Ltd
- Jasan Construction Ltd
- Multiple I.C.D Ltd
- DFCU Ltd
- JMP investments Ltd
- MULCO Textile Ltd
- Ministry of energy and mineral development
- NADIMS Ltd
Top 25 individual rental income tax payers are in financial year 2018/19;
- Mr. Alnasir Viran Gulam Hussein Habib
- Dr Sudhir Ruparelia
- Mohamed Hussein
- Viran Amin
- Nakayima Janat
- Karia Pradip
- Nipun Bhatia
- Karia Minex
- Lubega Charles
- Kassam Moyes
- Karia Kunnal
- Abdul Hamid Mohamad Karim Hirji
- Viran Aisha
- Aziz Damani Abdulamid Hirji
- Karia Rita
- Karugaba Alice
- Hudan Alykhan
- Sophy Nantongo
- Mpza Eron
- Tumwesigye Mustapha
- Thakrar Nita
- Musisi Fredrick
- Muwonge john
- Karan Deyaiji
- Kirumira Godfrey.
