SUSPEND 20PC WITHHOLDING TAX ON WINNINGSDear Editor,As Patriots for Economic Progress (PeP), we call upon the UPND Administration in general and President Hakainde Hichilema in particular to immediately suspend the 20 percent withholding tax on online betting winnings as it is grossly unfair. It must be noted that the majority of online betting winnings are extremely small amounts of less than K10, 000 and it is only two or three people that win more than K100, 000 in a year, across all the online betting companies. It should also be noted that before a person finally wins an online bet, they would have lost several times such that in most instances their net position would still be negative despite winning an online bet. One of the fundamental principles of taxation is that it must be fair and equitable. It is definitely unfair to impose a 20 percent tax on a person who is in a negative net position […]
SUSPEND 20PC WITHHOLDING TAX ON WINNINGS
