NamRA – Windhoek Observer

17 Sep

PwC to host discussions on tax amendments

ObserverNational NewsNamRA, PAYE deductions, PriceWaterhouseCoopers

Ester Mbathera and Erasmus Shalihaxwe PriceWaterhouseCoopers (PwC), a provider of business advisory services, will host a series where experts will discuss the tax amendment update in greater detail. The recent tax amendments, gazetted on 16 September, aim to provide tax relief to individuals and businesses while broadening the tax base, signalling a shift in the country's fiscal policies. The amendment follows extensive consultations with stakeholders and is part of the government's ongoing efforts to stimulate economic growth and enhance revenue collection. According to PwC, the increase in individual tax thresholds, along with the reduction in corporate income tax rates, is…

16 Sep

PAYE tax refunds represent respite for many Namibians

ObserverObserver MoneyNamRA, Pay-As-You-Earn (PAYE)

Niël Terblanché Many low-income earning Namibians are preparing to benefit from tax refunds following a recent announcement by Iipumbu Shiimi, the minister of finance and public enterprises. Over the weekend, Shiimi declared that employers across the country must adjust Pay-As-You-Earn (PAYE) deductions to ensure that employees who were over-taxed are reimbursed. On Monday, the Ministry of Finance confirmed the new measures through the publication of the revised tax schedule in the Government Gazette, detailing the updated tax thresholds and rates. The new schedule exempts individuals earning below N$100 000 annually from PAYE, a move aimed at easing the financial burden…

15 Sep

PAYE reimbursements loom as new tax rates take effect

ObserverNational NewsIpumbu Shiimi, NamRA, Pay-As-You-Earn (PAYE)

Niël Terblanché Namibia’s minister of finance and public enterprises, Ipumbu Shiimi, has announced that employers are required to adjust the Pay-As-You-Earn (PAYE) tax deductions from employees to ensure the reimbursement of any over-deducted amounts. In a statement issued over the weekend, Shiimi stressed that any over-deduction of PAYE resulting from the implementation of the adjusted statutory tax rates must be refunded by employers shortly after the gazettement of the new rates. The minister, however, did not indicate exactly when the new rates will be gazetted. “The reimbursement would be deducted from the employee's monthly tax contribution payable to the Namibia…

12 Sep

Collaboration set to strengthen investment framework and tax compliance

ObserverNational NewsNamRA, Nangula Uaandja, NIPDB, Sam Shivute

Niël Terblanché The Namibia Revenue Agency (NamRA) and the Namibia Investment Promotion and Development Board (NIPDB) signed a new Memorandum of Understanding (MoU) in an effort to improve Namibia’s investment climate and tax compliance. This collaboration is set to enhance the efficiency of income tax and VAT registration processes while streamlining the investment process for foreign investors. The MoU signed on Wednesday, reflects both institutions’ commitment to strengthening tax compliance and promoting foreign investment, with a clear focus on fostering economic growth in Namibia. NamRA Commissioner Sam Shivute stressed the importance of facilitating a conducive environment for investors. “We want…

08 Aug

Zhong Mei fights for N$33m garnished by NamRa

ObserverNational NewsBank of Namibia, NamRA, Standard Bank, Zhong Mei fights for N$33m garnished by NamRa

Staff Reporter Zhong Mei Engineering Group has dragged Namra, Standard Bank, Bank of Namibia, and the finance minister to the High Court over N$33m garnished from its account as unpaid tax for 2013 and 2018. The company says Namra instructed Standard Bank to deduct N$33, 031, 543.04 from its account on 12 July 2023 as unpaid tax. According to Zhong Mei, Namra ordered the garnishing order while negotiations to pay off the debt were going on between the parties. The company offered to pay N$2m once off and settle the rest in instalments. Jiang Chong Yaun, who represented Zhong Mei,…

08 Apr

NamRA launches officially …as 20 Finance Ministry staff refuse to join

ObserverObserver MoneyDepartment of Inland Revenue and Customs Excise Directorate, Namibia Revenue Agency, NamRA

Andrew Kathindi Twenty employees from the Department of Inland Revenue and Customs Excise Directorate have indicated that they do not want to move to the newly formed tax collection agency, the Namibia Revenue Agency (NamRA). This was revealed by Finance Ministry Spokesperson Tonateni Shidhushu. The 20 employees who have not given their consent to be transferred to NamRA are part of 1400 other staff members from the department in the Ministry of Finance. All the employees were handed letters of intent to sign on whether they agree to or not to transfer to the newly formed government enterprise. "We will…

17 Feb

NamRa secrecy irks NAPWU

ObserverObserver MoneyNamibia Public Workers Union (Napwu), NamRA

Andrew Kathindi The Namibia Public Workers Union (NAPWU) has accused the Ministry of Finance of being secretive and failing to consult in the establishment of the Namibia Revenue Agency’s (NamRA) HR structures, amid concern the agency could become a gravy train for top management. According to the union, the agency is trying to create a management structure where a select few will benefit from bloated benefits, not in line with existing government pay structures, defeating its intended purpose. In a letter to the Finance Ministry Executive Director, Erica Shafudah, which is in the possession of Windhoek Observer, the public workers…

12 Sep

Shivute lands NamRA top job

ObserverObserver Moneyamibia Revenue Agency (NamRA), Bank of Namibia (BoN), NamRA, president Hage Geingob

Staff Writer Bank of Namibia (BoN) Director of Banking Services, Sam Shivute is set to be appointed the inaugural head of the Namibia Revenue Agency (NamRA) after cabinet chaired by President Hage Geingob approved his appointment. The last hurdle in the unveiling of Shivute now lies with the Public Service Commission, which is widely expected to approve his appointment as Commissioner of NamRA following cabinet’s nod. Shivute will ascend to head the revenue body amid allegations that recruitment procedures were violated to ensure that he emerges as the preferred candidate, with the finance minister Iipumbu Shiimi as the key driver…

02 Sep

Shiimi pushes for Shivute at NamRA …as board remains in the dark

ObserverObserver MoneyBank of Namibia (BoN), Finance Minister Iipumbu Shiimi, NamRA, Sam Shivute

Staff Writer Bank of Namibia (BoN) Director of Banking Services, Sam Shivute is front runner to land the Commissioner position at the newly established Namibia Revenue Agency (NamRA) amid allegations that Finance minister Iipumbu Shiimi has deliberately pushed through the candidature of his former colleague in a questionable recruitment process. This comes as insiders revealed that Shiimi had forwarded three names for cabinet’s consideration, with Shivute scoring 20 points more than other candidates despite his lack of an accounting or tax background, a key requisite for the post. The scoring of the Shivute is said to have raised concern among…