Withholding tax to raise cost of living

THE enforcement of withholding tax (WHT) on rentals will in the short to medium term increase the cost of accommodation as landlords will seek to pass the levy on the tenants, Zambia Institute of Estate Agents (ZIEA) has said.
Zambia Revenue Authority (ZRA) has embarked on a campaign to mobilise resources locally through various taxes to help finance government obligations.
However, ZIEA president Logan Nyasulu is optimistic that in the long run, the enforcement of WHT is likely to stimulate growth in the real estate sector.
“We are of the view that the firming of the WHT law is long overdue and is a good decision. We have often cried that taxes in Zambia are too high and concentrated on about 750,000 Zambians with formal jobs through pay as you earn (PAYE),” Mr Nyasulu said in response to a query yesterday.
And University of Zambia director of graduate school of business Lubinda Haabazoka said the…


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