insert_link Namibia Finance Ministry calls for employee PAYE refunds after tax changes The Ministry of Finance and Public Enterprises has instructed employers to reimburse employees once the new statutory tax rates are gazetted, according to a media release issued on Saturday. The Ministry's spokesperson, Wilson Shikoto, explains. Cirrus Capital economist Robert McGregor said that the amendment will provide consumers with additional relief over and above the 25 basis points repo rate reduction seen last month. Meanwhile, business owner […] todaySeptember 16, 2024 10
insert_link Business / Economics Austria proposes construction of affordable houses in Namibia An Austria-based Global Housing Solutions company has proposed to build affordable houses in Namibia, through a government-based loan of N.dollars 1.4 billion (70 million Euros). This is according to Austria's 10th Federal Chancellor Alfred Gusenbauer who during a courtesy visit to President Nangolo Mbumba on Monday said through their facilitation the Namibian government could enter into a contract with an Austrian commercial bank with a grace period […] todayJuly 15, 2024 78
insert_link Namibia Ministries Collaborate to Establish Special Economic Zones for Industrial Growth In a strategic collaboration between the Finance and Public Enterprises and Industrialisation and Trade ministries, Namibia is gearing up to establish Special Economic Zones aimed at fostering competitive industrial development. Finance Minister Ipumbu Shiimi announced that participants in these zones will enjoy a favorable corporate income tax rate of 20%, along with standard deductions for capital allowances and zero-rated VAT within the designated areas. Theo Klein, an economist from Oxford […] todayMarch 4, 2024 27
insert_link Business / Economics Budget Statement for the 2024/25 Financial Year Introduction Honourable Speaker, Honourable Members of Parliament, Fellow Namibians, I have the distinct honour this afternoon to table before the National Assembly the budget proposals for the FY2024/25 and the Medium Term Expenditure Framework for FY2024/25 – FY2026/27 under the theme “continuing the legacy of His Excellency Dr. Hage G. Geingob by caring for the Namibian child”. Before I delve into the details of the budget, I would like to […] todayFebruary 28, 2024 138
insert_link Business / Economics N-Soft Spearheads Digital Sovereignty and Economic Intelligence with New Burundi Partnership N-Soft is set to revolutionize revenue mobilization in Burundi, a nation of just over 13 million people with a 4.0% growth rate, through the imminent deployment of the Gambling Management System (GMS), its disruptive governance solution for the gambling sector. Because of the lack of transparency in the industry, millions of dollars in revenue go unreported and untaxed every year. However, up until now, the national authorities have […] todayFebruary 21, 2024 12
insert_link Namibia Ministry of Public Enterprises intends to implement a new game plan for State-owned enterprises The Finance and Public Enterprises ministry intends to implement what it calls a new game plan aimed at enhancing the effectiveness of State-owned enterprises, with a particular focus on boards’ performance. Minister Iipumbu Shiimi revealed the plan during the public enterprises conference held at Gross Barmen this past week, saying it will include the recruitment of experienced individuals to serve as board members of SOEs and measuring their performance. todayNovember 27, 2023 14
insert_link Business / Economics Government launches ‘My First Job’ program to address youth unemployment To combat the high youth unemployment rate of 48%, the government is launching the "My First Job" program, comprising the Youth Employment Tax Incentive and National Internship Programme. Led by the Ministry of Finance and Public Enterprises, the Ministry of Higher Education, Technology & Innovation, and the Namibia Investment Promotion and Development Board, the initiative addresses graduate unemployment by providing initial industry experience for school leavers and graduates. todayNovember 23, 2023 61
