Government will, in the next few weeks, institute a presidential taskforce to clamp down on\u00a0landlords and property owners, who charge rent in foreign currencies.<\/p>\n
\u201cThe major rationale behind the taskforce formation is to en\u00adsure that landlords and property owners do not overcharge their tenants especially in foreign currencies as the practice is contrary to the rent law,” a document cited by Business Day had revealed.<\/p>\n
Currently, the various stake\u00adholders in the housing sector including Rent Control are mak\u00ading their final inputs into the document for the formation of the taskforce, whose duty will also include mobilization of rent taxes as part of efforts to improve revenue collection.<\/p>\n
The government is hopeful that the new taskforce, when\u00a0formed, will help the state gen\u00aderate more revenues from land\u00adlords and property owners to salvage the ailing economy.<\/p>\n
The rent tax currently stands at eight per cent and landlords and property owners are ex\u00adpected to pay this rate to govern\u00adment anytime they lease out their properties.<\/p>\n
The newspaper reports that\u00a0a key stakeholder in the tax force implementation said: “the rent law demands that landlords pay rent taxes to the state but due to poor mechanization and weak revenue mobilization system on the part of the gov\u00adernment and state institutions, the state has to lose huge sums of money from this avenue.\u201d<\/p>\n
The source continued: \u201cCur\u00adrently the country is facing eco\u00adnomic hardship due to inad\u00adequate donor support. To this effect, the government has now decided to tax everything and the latest to be enforced is rent tax and landlords are the key targets now.\u201d<\/p>\n
The Chief Rent Controller, Addo Soin Dombo in an exclu\u00adsive interview with Business Day confirmed that his outfit had been served with a copy of the proposed documents on the taskforce to enable him make his inputs.<\/p>\n
He said issues of rent tax has been in existence for years and that his outfit was the right body to do the collection but lack of personnel and inadequate infra\u00adstructures made the Rent Control ineffective.<\/p>\n
<\/p>\n
Source:\u00a0<\/strong>Business Day<\/p>\n","protected":false},"excerpt":{"rendered":" Government will, in the next few weeks, institute a presidential taskforce to clamp down on\u00a0landlords and property owners, who charge rent in foreign currencies. \u201cThe major rationale behind the taskforce formation is to en\u00adsure that landlords and property owners do not overcharge their tenants especially in foreign currencies as the practice is contrary to the […]<\/p>\n","protected":false},"author":5,"featured_media":14101,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[17],"yoast_head":"\n