The 2014-15 Budget was presented by the Minister of Finance on 19 February 2014, and includes the following measures:
- Corporate taxation: The non-mining corporate income tax rate will be reduced from 33% to 32%.
- VAT: The VAT registration threshold will be increased from NAD 200,000 to NAD 500,000.
- Excises: The government plans to review excise rates in line with obligations under the Southern African Customs Union Agreement.
- Environmental levies: The first phase of environmental taxes will apply to carbon dioxide emission tax on motor vehicles, incandescent light bulbs and motor vehicle tyres.
- Incentives: Measures to promote domestic value-addition in the primary commodity and natural resources sectors will be introduced soon.
