Real estate business at a glance in the eyes of the Ugandan budget fiscal year 2021/2022

By CPA David Kiwanuka Section 5 of the Income Tax Act has been amended to include a new subsection 2a. This new subsection provides that: “A person who during a year of income earns rental income from more than one building shall account for the income and expenditure of each building separately and shall pay tax for each building separately.” A second amendment concerning rental income