Ministry of Finance – Page 2 – Windhoek Observer

18 Aug

EIG to cost Gvt N$210m more

ObserverObserver MoneyEmergency Income Grant (EIG), Ministry of Finance

Staff Writer The Ministry of Finance has added an additional N$210 million to its initial budget of N$562 million, budgeted for disbursement under the Emergency Income Grant (EIG), a once-off N$750 cash payment per qualifying person, on the basis of meeting a set of criteria. To date according to figures from the Ministry of Finance, 765,452 beneficiaries have already received payment under the scheme launched in April by government to aid those who have lost jobs or income, as a result of COVID-19 from an initial estimate of 739,000 Namibians. “As we speak 765, 452 have received their grant already.…

15 Jul

Finance ministry integrates systems

ObserverUncategorisedMinistry of Finance, Ministry of Finance Chief Public Relations Officer, Tonateni Shidhudhu

Staff Writer The Ministry of Finance has announced the integration of its tax and customs payment systems. “Ministry of Finance wishes to inform taxpayers that the Integrated Tax Administration System (ITAS) and the Automated Systems for Customs Data (Asycuda) are now linked,” Ministry of Finance Chief Public Relations Officer, Tonateni Shidhudhu said. He said, “the integration of the two systems will now make it possible for information in respect of an import declaration made in Asycuda for deferred payment of Value Added Tax on imports (VIA) to be send to ITAS and automatically processed to the VIA account of the…

03 Jul

Govt rules out Air Namibia plan

ObserverObserver MoneyMinistry of Finance

Staff Writer The Ministry of Finance has ruled out availing funds for Air Namibia’s touted new business plan, saying it’s not viable and not sustainable. This comes as the business plan will require N$7 billion to be implemented, including management of the national carrier’s existing N$5 billion debt. “This means for the new business plan to be implemented taking the outstanding debt into account, an amount of N$7 billion will have to be spent in the current financial year, which makes it unaffordable as resources are needed for other priorities such as health, education, housing and sanitation,” the Ministry of…

23 Apr

Tourism industry dying while waiting for bailout

ObserverObserver MoneyFederation of Namibian Tourism Associations (FENATA), lockdown, Ministry of Finance, tourism

…30,000 jobs can be lost if government money does not arrive on time Staff Writer The government is yet to avail the N$400 million promised to the country’s tourism sector as a subsidy. It has been three weeks since the Finance minister Iipumbu Shiimi, made an announcement pledging the multi-million dollar bailout for the hospitality, travel and tourism sector. The funds, according to Shiimi were aimed at providing a subsidy to players in the hard-hit tourism sector. This financial support would allow them to retain jobs with the industry. Tourism has been brought to a grinding halt as a result…