Withholding tax on rent: Get it right

Monday, August 18, 2014

With effect from May 3, 2011, payers of rent for the use of land and or buildings (tenants) are required to deduct a five percent withholding tax from rental payments (the withholding tax) made to recipients of rent (landlords).

This tax was brought into force through Income Tax Amendment Act No. 8 of 2011. Despite the fact that this law has been in force for more than three years now, it appears that some tenants are still unaware of the tax. In this article, we will provide some guidance for tenants to help them fully comply with the requirements of the Tax Act regarding the withholding tax.

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Withholding tax on rent: Get it right

With effect from May 3, 2011, payers of rent for the use of land and or buildings (tenants) are required to deduct a five percent withholding tax from rental payments (the withholding tax) made to recipients of rent (landlords).

The projects magazine in collaboration with Stanbic bank launched the future of mining summit 2024

MISA Botswana celebrates World Press Freedom day

Unlawful wounding turns to murder

Mahalapye suspected copper cable thief nabbed

TAFIC targets top four finish

Selefu

Selefu

Repatriation underway for seven SA Pilgrims

Stakeholders must step up veggie supply