People should not have to pay withholding tax on savings

Dear Editor,

When we work they take out tax from our wages, then when we save a little in the bank and we go to get interest on our savings, they take out 20% as withholding tax.

That is not fair, because we paid taxes already when we got paid, and it’s unfair to pay withholding tax in addition. That is double taxation. Interest on savings is the only source of income for some people.

 

Yours faithfully,        

Mohamed Azad