Namibia announces new tax measures in budget 2024/25

11 March, 2024

On 28 February 2024, Namibia presented the 2024-2025 budget, which includes several significant tax measures. These are as follows: The tax rate for non-mining companies will be lowered to 31%, effective 1 January 2024. The rate will be reduced

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Namibia announces 2024/25 budget with new tax measures

05 March, 2024

On 28 February 2024, Namibia delivered the 2024/25 Budget. The key tax provisions in the budget statement include: Individual income tax  The 2024/25 Budget increases the threshold for the individual income tax from NAD 50,000 to NAD 100,000,

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Namibia signs MLI tax convention

13 October, 2021

On 30 September 2021, Namibia has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, becoming the 96th jurisdiction to join the Convention. The provisional list of reservations

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Namibia: MOF publishes the 2021/22 Budget Statement

28 March, 2021

On 17 March 2021, the Ministry of Finance has published the budget statement for 2021/22 providing the following tax reforms: There were no proposed increases or changes to the main tax brackets.Budgeted expenditure for the 2022 year will be

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Namibia deposits BEPS MLI ratification instrument

15 December, 2020

On 9 December 2020, Namibia deposited its ratification instrument for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI).  The MLI will enter into force for Namibia on 1 April

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Namibia introduces a bill to repeal tax incentives for manufacturing and export processing zones

29 February, 2020

On 19 February 2020, the Minister of Finance tabled the first income tax amendment bill of 2020 in Parliament that repeals the tax incentives applicable to registered manufacturers and export processing zones (“EPZ”). For manufacturers, this

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OECD: Namibia joins the Inclusive Framework on BEPS

22 August, 2019

On 9 August 2019, Namibia has joined the OECD base erosion and profit shifting (BEPS) inclusive framework. Accordingly, all OECD state and non-state jurisdictions that commit to the BEPS project will participate as BEPS associates of the OECD's

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Namibia: Finance Minister proposes Budget for 2019/20

13 April, 2019

On 27 March 2018, the Finance Minister of Namibia presented the budget for 2019 to the parliament. The following tax proposals will be finalized in this budget for 2019: Phasing out the current tax incentive for manufacturers and exporters

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Agreement to Create the African Continental Free Trade Area

22 March, 2018

On 21 March 2018 leaders of 44 African countries signed an agreement to create the African Continental Free Trade Area (AfCFTA). The agreement if implemented would remove barriers to trade, such as tariffs and import quotas, allowing the free flow

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Namibia: Budget for 2018/19

14 March, 2018

On 7 March 2018, Mr. Calle Schlettwein, The Finance Minister of Namibia delivered the 2018 budget speech (the Budget). Changes to the Income Tax Act will come into effect in 2019. Phasing out of preferential tax treatment to manufacturers The

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Namibia authorizes to negotiate the DTA with Zimbabwe

09 July, 2017

The Namibian cabinet has authorized to negotiate the Double Taxation Agreement (DTA) with Zimbabwe for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on

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Namibia: Budget proposal for FY 2017-18

01 June, 2017

The Finance Minister, Mr. Calle Schlettwein, presented the annual national budget for the fiscal year 2017-18, on 8 March 2017. New tax policy and tax administration reforms announced include: Tax Arrear Recovery Incentive Programme will

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Namibia-increase of withholding tax rate of non-resident directors’ fees

04 July, 2016

In Namibia, the withholding tax rate applicable to directors’ fees paid to non-residents has become 25% with effect from 21 June 2016. Non-resident directors are no more obliged to include the directors. Fees in their income tax returns since the

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Namibia-Increased VAT registration threshold

21 October, 2015

In Namibia the VAT registration threshold will be increased from 1 November 2016. The threshold will increase from NA$200,000 to

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Namibia-Proposed VAT and Income Tax Amendments

24 September, 2015

The Namibian Minister of Finance submitted the Value-Added Tax (VAT) Amendment Bill and the Income Tax Amendment Bill to the National Assembly on 22 September 2015. The changes to the VAT Act will become effective from the first day of the month

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Namibia: Budget proposals for 2015-16

16 April, 2015

The Namibian budget speech for 2015-16 was delivered on 31 March 2015. In the budget it was proposed to reduce the corporate income tax rate for non-mining companies from 33% to 32%. There will be no change in the corporate tax rate for mining

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Namibia’s Budget Recognizes Increase in Tax Revenue

09 March, 2014

Namibia’s 2014 Budget provides for a 20% increase in tax revenues. The Government recognizes that, while the domestic revenue stream will contribute significantly to expected revenue, a significant risk to Namibia's fiscal outlook derives from

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Namibia: Budget for 2014/15

24 February, 2014

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

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