Integrated Tax Administrative System (ITAS)

Economy to contract by 7.9 percent …as Gvt offers tax filing incentives

Economy to contract by 7.9 percent …as Gvt offers tax filing incentives

Andrew Kathindi Namibian economic activity is predicted to contract by 7.9 percent, about 0.1 percent more than the 7.8 percent the Bank of Namibia (BoN) had forecasted for 2020, in August this year. Finance Minister, Iipumbu Shiimi in his delivery of the mid-term budget review, said the contraction was, “ a historic high whose contours cut across all economic sectors.” “The pandemic induced deepest historic recession this year exacerbated this situation, with a fallout on businesses, jobs, per capita income and public revenue.” Shiimi further said, “While the worst impact of the pandemic appears to have abated, its impact on…
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Finance ministry extends tax registration deadline

Finance ministry extends tax registration deadline

Helena Johannes The Ministry of Finance has extended the submission deadline for annual individual income tax returns from 30 September to 1 March 2021. Ministry spokesperson, Tonateni Shidhudhu said the extension was being done in order to “allow more time to employers who did not submit their employees Tax Returns (ETX template/excel sheer) on the Integrated Tax Administration System portal,” adding that the extension only applies to the filing of returns, not for the payment of tax which is still due by 30 September. This comes after the finance ministry only managed to register 24 percent out of its 90…
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