UGANDA, Kampala | Real Muloodi News | In a public notice, the Uganda Revenue Authority (URA) has extended the filing date for November 2023 monthly tax returns to Tuesday, 19th December 2023. This extension aims to provide the public with additional time to adapt to the new online return filing system.
Understanding Real Estate Tax Returns
Filing returns related to real estate is a critical process wherein taxpayers accurately report their obligations according to tax laws to the Uganda Revenue Authority (URA).
The filing includes various tax types such as PAYE, Income Tax, VAT, Local Excise Duty, and more. In this guide, we will focus on the intricacies of real estate tax returns, emphasising the Rental Tax Compliance System (rTCS).
Key Definitions and Concepts
A Return
A declaration made to the commissioner on a prescribed form, disclosing income earned or losses incurred during a specific period. Examples include PAYE returns, Income tax returns, VAT returns, Local Excise duty returns, and more.
Tax Period
The duration for which a return is required, such as a year, month, or week.
Provisional Return
A declaration showing the taxpayer’s estimated annual income and corresponding tax payable for the next period.
Final Return
A declaration reflecting the taxpayer’s actual income earned and tax payable for the past period.
Return Due Date
The deadline for filing a return beyond which a person incurs penalties for late filing.
Real Estate Tax Types and Due Dates
Here is a breakdown of real estate-related tax types, their due dates, and the respective forms:
Income Tax – Individual (Provisional):
– Due Date: End of the 3rd, 6th, 9th, and 12th month from the beginning of the taxpayer’s year of income.
– Form: DT-2003
– Comments: Applicable to individuals earning business, rental, or property income.
Income Tax – Non-Individual (Provisional):
– Due Date: End of the 6th and 12th month from the beginning of the taxpayer’s year of income.
– Form: DT-2004
– Comments: Based on estimated chargeable income.
Final Income Tax – Individual:
– Due Date: End of the 6th month from the end of the taxpayer’s year of income.
– Form: DT-2002
– Comments: Submitted by individuals with a gross turnover of 150 million and above, including rental income.
Corporation Tax (Income tax for companies):
– Due Date: End of the 6th month from the end of the taxpayer’s year of income.
– Form: DT-2001
– Comments: Submitted by entities other than individuals and partnerships, e.g., companies, and trusts.
Partnership – Final Income Tax:
– Due Date: End of the 6th month from the end of the taxpayer’s year of income.
– Form: DT-2005
– Comments: Submitted together with individual partners’ returns.
Value Added Tax (VAT):
– Due Date: By the 15th day of the following month.
– Form: DT-2031
– Comments: Submitted monthly by VAT-registered traders.
Submission, Extension, and Amendment Procedures
Downloading a Return Template
1. Visit www.ura.go.ug.
2. Scroll down to download online forms.
3. Download the preferred return form under the e-form column.
4. Save the template, open, and enable macros.
5. Fill in the required details, validate, and save the upload file.
Uploading a Return
1. Log in to www.ura.go.ug.
2. Under e-services, select e-returns.
3. Click the relevant return type, enter the period, and click check.
4. Browse for the saved upload file and submit.
Extension of Return Due Date
1. Apply on the website with reasons justifying the extension.
2. Extensions, if granted, do not exceed 90 days in aggregate.
Amendment of a Return
1. Log in to www.ura.go.ug.
2.Under e-services, select e-returns and choose Amended.
3.Download the amendment return, make changes, and submit.
Printing/Viewing Submitted Returns
– Log in to www.ura.go.ug.
– Under e-services, select e-returns, then others, and click on View History.
– Enter the period, select the tax type, and click search.
Penalty for Late Filing
If a return is not filed by the due date the penalty: The greater of 2% of the tax charged or UGX 200,000 for each month.
Filing real estate tax returns is a crucial obligation that taxpayers must fulfil to avoid penalties and legal consequences.
The detailed guide provides a comprehensive understanding of various real estate-related tax types, their due dates, and the procedures for submission, extension, and amendment.
Timely and accurate submission not only ensures compliance but also contributes to improved risk ratings with the URA.
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