The Revenue Services Lesotho (RSL) has secured a court order to attach the assets of the Lesotho Housing and Land Development Corporation (LHLDC) over a tax debt exceeding M35 million.
According to the order, LHLDC owes RSL a total of M35,722,995.38 in unpaid taxes, with the debt accruing interest at a staggering 22 percent annually.
The order authorises RSL to seize LHLDC’s movable assets, and if those prove insufficient, its immovable assets may also be attached and sold. LHLDC has been given 14 days to settle the debt, failing which RSL will execute the order and auction the assets publicly to recover the outstanding amount.
“It is therefore to authorise you to attach, remove, and take into your custody or possession the movable goods of Lesotho Housing and Land Development Corporation and if insufficient attach the immovable property of the Lesotho Housing and Land development Corporation and of the same cause to be realised by public auction in the sum of M35,722,995.38 together with your costs of this execution and pay to the RSL the aforesaid sum of M35,722,995.38 and return to this court what you have done by virtue thereof,” reads the order to the sheriff of the Magistrate Court.
LHLDC is a state-owned enterprise established under the Lesotho Housing and Land Development Corporation Order No. 12 of 1988, following the merger of the Lower Income Housing Company (LEHCO-OP) and the Lesotho Housing Corporation (LHC).
The corporation falls under the Ministry of Local Government and Chieftainship, which holds a 75 percent stake, while the remaining 25 percent is owned by the Lesotho National Development Corporation (LNDC).
This latest move underscores RSL’s hardening stance on tax defaulters, even among government-owned companies. Just last month, RSL obtained a similar order against Loti Brick, another state enterprise, for unpaid taxes amounting to M7,401,813.03.
Summary
- The Revenue Services Lesotho (RSL) has secured a court order to attach the assets of the Lesotho Housing and Land Development Corporation (LHLDC) over a tax debt exceeding M35 million.
- “It is therefore to authorise you to attach, remove, and take into your custody or possession the movable goods of Lesotho Housing and Land Development Corporation and if insufficient attach the immovable property of the Lesotho Housing and Land development Corporation and of the same cause to be realised by public auction in the sum of M35,722,995.
- The corporation falls under the Ministry of Local Government and Chieftainship, which holds a 75 percent stake, while the remaining 25 percent is owned by the Lesotho National Development Corporation (LNDC).
Thoboloko Ntšonyane is a dedicated journalist who has contributed to various publications. He focuses on parliament, climate change, human rights, sexual and reproductive health rights (SRHR), health, business and court reports. His work inspires change, triggers dialogue and also promote transparency in a society.
