Kampala property mogul Sudhir Ruparelia’s obedience to the law has been vindicated by Uganda Revenue Authority (URA), leading the country’s non-individual rental income taxpayers.
Sudhir’s Meera Investments has been applauded
In a statement on Tuesday, the tax body said Meera Investments, a real estate company owned by Sudhir leads Uganda’s non-individual rental income taxpayers while the businessman also comes second among the top 25 individual rental income taxpayers.
Sudhir who has, according to the 2016 Forbes richest list, seen his net worth shrink by about US$300 million to US$800 million still owns two of Kampala’s most prime properties; Speke Resort and Munyonyo Commonwealth
Resort sit on 76 acres on the shores of Lake Victoria.
URA Commissioner General, Doris Akol praised the likes of Sudhir serve as “role models” for “ontime rental income tax declarations and payment.”
“We encourage all the other players in rental real estate to emulate these role models, come forth, declare and pay your taxes voluntarily as we develop Uganda together,” said Akol.
Other top 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.