Property Management

This is a person who is contracted to manage property on behalf of the owner. A property manager has the responsibility of looking after a property e.g. a building, and look for tenants to occupy the property.

In this case, the property manager pays the landlord, he collects rent paid by tenants and benefits in terms of a commission.

Another category of property manager is that where a person is contracted to solely look after a property e.g. a building in exchange for a pay. A good example of that category in Uganda is Knight Frank.

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All property managers in Uganda are required to be registered with;

  • Uganda Registration Services Bureau (URSB) for business name or Company registration
  • Uganda Revenue Authority (URA) for taxes
  • Local council authority e.g. KCCA, municipal council, for approval of building plan

For individual

  • National ID
  • Certificate of registration

For non-individual

  • Company Form 20
  • Certificate of incorporation

Click here for details on requirements for registration

  • You’re required to visit the URA portal on ura.go.ug
  • Click here to register as an individual
  • Click here to register as a non-individual

Corporation tax

The income tax rate for a company is 30% of the entity’s chargeable income (gross income less allowable deductions), after profits are realised.

 

Individual Income tax

Individual property managers are eligible to pay income tax depending on the income bracket that relates to each.

Click here for more information on the computation of individual income tax

Value Added Tax (VAT)

VAT is a consumption tax charged at a rate of 18% on all supplies made by taxable persons i.e. persons registered or required to register for VAT purposes. As a property manager, the service provided is a taxable supply and attracts VAT.

Click here to register for VAT

Please note:

All VAT registered taxpayers are obliged to register for EFRIS and issue e-invoices

Click here for information on how to register for EFRIS

  • Services of a property manager attract VAT at the standard rate of 18%.

    Withholding tax

    Withholding tax (WHT) is income tax that is withheld at source by one person (withholding agent) upon making payment to another person (payee). When a property manager offers a service to a person, 6% is withheld, provided the propert manager is a withholding agent and is remitted to URA on a monthly basis.

    If there’s any amount withheld from payment to a property manager at a rate stated above, the amount withheld is claimed by the property manager as a credit when filing an income tax return.

    Click here for information on Withholding tax.

    Pay As You Earn (PAYE)

    Any property manager with employees earning a monthly salary more than 235,000 per month is required to register for Pay as You Earn (PAYE), withhold and remit tax to URA on a monthly basis.

    Click here for the PAYE rates

  1. Tax applicable is income tax as long as the developer has realised profits

Note: Withholding tax will is applicable if the buyer is a designated withholding agent

  • Click here for information on how to file your returns.

After filing a return, you’re required to pay taxes due using available payment platforms e.g. banks, mobile money, EFT, RTGS, VISA, Mastercard, USSD code (*285#).

Please note: the due date for payment of tax is the same as that of return filing.

Click here to register a payment

For more information, visit the nearest URA office for assistance or call the toll-free line 0800117000/0800217000 or WhatsApp: 077214000

 

 

 

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