Q FM Africa's Modern Radio
Financial Analyst Mambo Hamaundu has called on the Zambia Revenue Authority (ZRA) to do a lot of sensitization before implementing any law such as the withholding tax on rental income.
Mr. Hamaundu says even though the law has always been there, it was not implemented and should therefore not be implemented in a rush, but that people should be given enough time to understand and analyze the law.
Mr. Mambo notes that ZRA is trying to implement the law vigorously because the country is experiencing a financial deficit and that poor Zambians are the ones to bear the brunt.
He further notes that government has to look for money to pay for the loans it has been contracted and also to fulfill other obligations but has no money, and has thought of now implementing the law on rental income to raise some money.
Mr. Hamaundu notes that it is sad that the landlords will pass the effects of the law onto the tenants who already are subjected to a high cost of living.
He states that ZRA should feel for the poor majority Zambians who already have a lot of bills and other things to pay for.
i also have a concern over the impementation of the tax on housing rentals as it would hit hard the tenants. kindly give a grace period for us to make preps for this tax to take effect. And give the prog for for implementation and give details about the tax, when it is supposed to be remitted .
David Mwanza