By Andrew Irumba
Kampala: Uganda’s business Tycoon Dr. Sudhir Ruparelia has proved that truly he is one of the most complying citizens when it comes to paying taxes.
According to Uganda Revenue Authority (URA), City business man Sudhir of Rupaleria Group and Meera Investment topped the list of top rental income taxpayers proving the tycoon is the country’s most dominant landlord.
Among the 25 Non-Individual rental income taxpayers in Uganda, Meera Investments Limited scored first and in the category of top 25 Individual rental income taxpayers, Mr. Sudhir Rupaleria was the second across the country.
Dr. Sudhir through his Meera Investments owns several properties across Uganda including hotels, luxurious apartments, schools, office spaces.
The rich man also owns properties in countries like UAE, UK, Rwanda among others.
Through the influence of his massive net worth which hovers around $1.2 billion, Sudhir Ruparelia has emerged into great fame as the wealthiest person in Uganda and the entirety of East Africa. Moreover, Sudhir Ruparelia is regarded as a renowned and fortunate tycoon who rose from a mere business enterprise which he set up with an amusing sum of $25,000.
The city businessman has from scratch, built his empire that spans from hotels and hospitality industry, real estate, floriculture education and schools to media, insurance, and forex and until recent banking before his Crane Bank was controversially transferred to DFCU bank by the Central Bank.
As he remains the richest Ugandan, he is largely associated with investment dealings in sectors including real estate, broadcasting, education, insurance, and banking.
Uganda’s real estate sector has steadily grown over the years and the sector contributes 0.20 percent to the GDP which is a significant amount to the domestic revenue.
Ms. Doris Akol, URA boss, said real estate has registered a 12% revenue growth in the past year. She said men and women such as Sudhir were “role models” who develop Uganda through voluntarily paying their taxes promptly.