By Our Reporter
Both the purchaser and the seller of land worth Shs 10 million or more are now required to have a Tax Identification Number (TIN), Uganda Revenue Authority (URA) says.
According to URA, this is effective December 6, 2021.
“The measure is intended to register all potential taxpayers and ensure that URA has visibility in land transactions to grow the tax base,” URA said in a statement.
To this, persons without TINs and are intending to transact in land are therefore advised to apply for a TIN on the URA web portal or visit a URA Domestic Taxes office for assistance.
“URA continues to explore reforms to attract more qualifying citizens to contribute towards national revenue mobilization for improved service delivery,” the statement adds.