Non-Mining Tax Rate Reduction

The Minister of Finance and Public Enterprises, Iipumbu Shiimi has introduced the Income Tax Amendment Act of 2024 in the National Assembly. The Act provides tax relief to individuals and non-mining companies by amending Schedule 4 of the Income Tax Act of 1981, which addresses tax rates. Shiimi had announced in the February 2024 national budget that all taxpayers would receive relief by adjusting the tax tables by N$50,000, exempting […]