Scrap off income rental tax and revoke duty free importation of mining equipment-Silavwe

Opposition Golden Party of Zambia president Jackson Silavwe has proposed for the scrapping of withholding tax on rental income for residential properties owned by locals as a way of enabling individuals and businesses have spending power to afford the high cost of living and doing business.

Mr. Silavwe says the government must also consider halving withholding tax for locally owned commercial properties and merging the business levy and fire certificate for businesses.

He says to recoup the lost revenue arising from the scrapping off and halving withholding tax, government must consider removing the duty free importation status on capital equipment, trucks and other utility vehicles for the mining sector.

Mr. Silavwe states that government spending no longer drives today’s economy, but individual spending.