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Landlords Urged to Declare Rental Income to ZRA
The Zambia Revenue Authority (ZRA) has urged landlords to declare their rental income and comply with tax obligations. ZRA Commissioner General Dingani Banda says rental income remains highly under-declared, with a previous 2018 assessment showing that only five percent of rented properties were registered for…
Picture: Diamond TV Zambia
The Zambia Revenue Authority (ZRA) has urged landlords to declare their rental income and comply with tax obligations.
ZRA Commissioner General Dingani Banda says rental income remains highly under-declared, with a previous 2018 assessment showing that only five percent of rented properties were registered for withholding tax on rental income.
In his presentation during Launch of the extended Voluntary disclosure programme in Lusaka, Mr. Banda says assessment found that out of approximately 600,000 rented dwellings, only 32,719 houses were registered for withholding tax on rental income.
Mr Banda says the figures highlights the need for landlords to come forward and regularise their tax affairs.
Meanwhile, Finance and National Planning Minister Dr Situmbeko Musokotwane says non-compliance with tax obligations continues to undermine Zambia’s domestic revenue mobilisation efforts.
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He urges the need to improve tax compliance, expand the tax base and ensure equitable contribution to the national treasury.
Dr Musokotwane says this is the basis for the Extended Voluntary Disclosure Programme, which gives eligible taxpayers with undisclosed or incorrectly declared tax obligations an opportunity to come forward, disclose the relevant information and settle the principal tax owed.
The Minister says the programme is not a reward for non-compliance, but an opportunity for taxpayers to correct past omissions and begin meeting their tax obligations consistently.
He has particularly encouraged Small and Medium Enterprises to take advantage of the programme, saying Government expects businesses to grow while meeting their tax obligations.
Source: Diamond TV Zambia — Read more
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- Zambia24 • 5 hours ago Landlords Urged to Declare Rental Income to ZRA
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