Tax relief injects N$646m into taxpayers’ pockets

Martin Endjala Minister of Finance and Public Enterprises, Iipumbu Shiimi has announced that government will inject N$646 million directly into taxpayers’ pockets. This means all individual taxpayers will be exempted from paying tax on the first N$100 000 per annum, of their first income as of 1 March 2024. This follows the tabling of the National Budget for the 2024/25 Financial Year in the National Assembly yesterday. The budget for the year under review stands at N$100.1 billion, which is a 12 percent increase from the previous year, under the theme Continuing the Legacy of late President Hage Geingob by…