Economist Embraces Tax Amnesty Announcement

Economist Embraces Tax Amnesty Announcement

During the presentation of the mid-term budget, Finance minister,Iipumbu Shiimi, announced the extension of the tax amnesty programme until October 31, 2026. It was originally set to expire today. Economist Gabriel Erastus provided his insights on the announcement.

October 31, 2024 21

Business / Economics

NamRa Commissioner sets record straight on tax refunds

Businesses have raised concerns about the tax relief that was gazetted in October. This follows the Ministry of Finance and Public Enterprises' announcement that employers will need to reimburse employees once the new statutory tax rates are officially published. Namibia Revenue Agency's commissioner, Sam Shivute explains.

October 21, 2024 26

2 4

Business / Economics

Finance Minister tables Income Tax Amendment Bill

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 […]

August 7, 2024 325 4 2

Namibia

Labor Expert Highlights Corporate Benefits from Upcoming Tax Relief

Labor Expert, Herbert Jauch discussed the corporate benefits following Finance and Public Enterprises Minister Iipumbu Shiimi's announcement that taxpayers will benefit from tax relief once the tax law is amended.

May 28, 2024 101

Namibia

Tax Relief Fra Ahead: Namibia’s Minister Shiimi Promises Benefits for Taxpayers

Finance Minister, Iipumbu Shiimi has announced forthcoming tax relief measures, including raising the tax threshold to N$100,000, which will exempt individuals earning up to this amount from income tax. The amendment, part of the national budget for 2024/25, is currently undergoing legal review and is expected to be finalized by October. Shiimi highlighted the importance of providing relief to households amidst economic challenges like high interest rates and inflation, reassuring […]

May 21, 2024 163