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Country Overview
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Capital City:
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Windhoek
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Chief of State:
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Hifikepunye POHAMBA
President since 2005
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Head of Government:
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Nahas ANGULA
Prime Minister since 2005
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Area (sq km):
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824,292 (land & water)
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Population:
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n/a
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Revenue Overview
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Revenue Authority:
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Directorate Inland Revenue
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Administration Head:
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Mr Justus S. MWAFONGWE
Commissioner
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Institution Address:
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*
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Private Bag X 13185
Windhoek, Namibia
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(
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Mobile:
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+264 811 224 551
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'
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Phone:
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+264 61 209 2940
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'
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Phone:
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+264 61 209 9111
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;
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e-Mail:
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justus.mwafongwe@gov.mof.na
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Country Correspondent:
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Mr Ralph STRAUSS
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Contact Details:
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;
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e-Mail:
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ralph.strauss@gov.mof.na
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Country Correspondent:
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Mr Jacobus Viljoen
Deputy Director Inland Revenue
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Contact Details:
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'
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Phone:
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+264 642 086 000
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;
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e-Mail:
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jacobus.viljoen@gov.mof.na
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Country Correspondent:
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Mr Ivan Tjikutirua HIJARUNGURU
Chief Taxation Officer
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Contact Details:
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(
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Mobile:
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+264 812 55 1472
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'
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Phone:
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+264 61 209 2195
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7
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Fax:
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+264 61 886 2910
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;
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e-Mail:
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ivan.hijarunguru@gov.mof.na
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Tax Rate Overview
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Personal Income Tax:
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Tax Year:
1 March to 28 February
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Tax Rate:
Progressive to 37%
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Resident and non-resident individuals are taxable on all income received or accrued from a Namibian source or deemed source that is not of a capital nature. The tax treatment of residents and non-residents is normally the same. Questions of residence generally are not relevant except when the non-resident is from a country that has concluded a tax treaty with Namibia.
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Individuals may deduct contributions to approved pension funds, provident funds and retirement annuity funds, and premiums with respect to educational policies, subject to an aggregate limit of NAD 40,000. No deductions are granted to individuals for medical expenses (employers liable for such expenses may deduct them, subject to certain limits).
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Salaried individuals must file their returns by the end of June. Tax on employment income is withheld by the employer under the pay-as-you earn system and remitted on a monthly basis to the Receiver of Revenue. Individuals who derive income from business or farming activities must register as provisional taxpayers. For non-farmers, 2 provisional tax payments are due on 31 August and 28 February. Farmers must make 1 provisional tax payment on 28 February. Final tax returns must be filed by the end of September.
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Corporate Tax:
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Tax Year:
Namibia tax year corresponds to a corporation's financial year.
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Tax Rate:
35%
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Mining companies (including mining service companies), excluding those mining diamonds and petroleum, pay tax at a flat rate of 37.5%. The effective tax rate for diamond mining and diamond mining services companies is 55%. Tax rate for petroleum mining companies is 35%. Nonmining income earned by mining companies is taxed at 35%. Recoupment of mining assets is taxed at the mining tax rate. The tax rate for registered manufacturers is 18% for a 10-year period. Recoupment of manufacturing assets is taxed at the manufacturing tax rate.
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Provisional tax returns are due 6 months after the beginning of a corporation's financial year and at year end. Final tax returns, together with a computation of taxable income and the payment of any corporation tax owed for the relevant tax year, are due within 7 months after the taxpayer's year end. Reasonable extensions may be granted to submit tax returns.
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Consumption Tax:
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Nature of the Tax:
Value Added Tax (VAT)
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Tax Rate:
15%
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Filing & Payment:
VAT returns must be filed bimonthly.
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Certain goods and services are zero-rated, such as direct exports of goods, international transport services, sales of businesses as going concerns, certain services rendered to nonresident persons and sales of some basic food items.
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Economic Overview
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GDP per capita (PPP) %:
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n/a
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Tax to GDP Ratio %:
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n/a
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Inflation Rate %:
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n/a
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Currency:
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Namibian Dollar
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