K28.2 million collected as withholding tax between January and June 2018- Mwanakatwe

Finance Minister Margaret Mwanakatwe has disclosed that government collected a total of K28.2 million as revenue in form of withholding tax on rental income on commercial and residential properties between January and June 2018.

Mrs. Mwanakatwe says of the total K28.2 million, K24.9 million was collected from commercial properties while K3.3 million was collected from residential properties.

She says as of May 30th 2018, the Zambia Revenue Authority captured a total number of 4,504 rented, commercial and residential properties of which 2,500 where commercial and the rest individual properties.

Mrs. Mwanakatwe says the Zambia Revenue Authority has since engaged a tax agent to collect tax on rental income which will help ZRA identify more tax bearers.

She said this is parliament in response to a question by Nangoma UPND Member of Parliament Boyd Hamusonde who wanted to know how much revenue government collected in form of withholding tax on commercial properties countrywide from January 2016 to June 2018 year by year.