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Message: [QUOTE="Nehanda, post: 30182, member: 2262"] The Uganda Revenue Authority wants landlords everywhere to come forward about their rental properties. They need to sign up for rental income tax before they face big fines. At recent tax meetings in Mbarara and Lyantonde, Isaac Aijuka told property owners they should use the URA's voluntary program. He warned that the URA can find hidden properties through their research teams. Rental income tax applies to all buildings that make money - homes or businesses. Landlords must tell the URA what they expect to earn at the start of each money year. Aijuka showed how URA figures out the tax amounts and asked landlords to keep good payment records. He said these records help track your yearly income and prevent the URA from making harsh guesses about what you owe. Samuel Tayebwa from Mbarara City explained that people often mix up different taxes. The URA collects rental income tax on money earned from letting property. The city council charges property tax on buildings within city limits. Both taxes exist under Ugandan law. Tayebwa urged landlords to plan for taxes and learn through the URA's online tools. Uganda created a rental income tax to collect more money from booming real estate markets. Regular people pay 12% after expenses, but companies pay 30% of profits. Many landlords never report their rental earnings, which costs the government lots of cash. URA stepped up their game by using space pictures, checking utility bills, and visiting properties. Their voluntary program helps landlords avoid audits and fines if they come clean early and keep proper records. [/QUOTE]

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