Keetmanshoop residents raise tax issues

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Keetmanshoop residents raised concerns about issues relating to domestic as well as import taxes during the NamRa stakeholder engagement meeting held in the southern town.

The stakeholder's engagement was aimed at educating taxpayers on legislative requirements, tax obligations, and voluntary tax compliance.

NamRa figures show the southern regions of Hardap and ||Kharas have a combined 62,000 registered taxpayers. 

Of this total, 26,000 submit their annual tax returns electronically.

Taxpayers urged to take advantage of Tax Amnesty Program

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Taxpayers have once again been urged to take advantage of the Tax Amnesty Program and file their taxes.

Through the Tax Amnesty program announced on the 1st of April, the Ministry of Finance agreed to waive 100% of the interest and penalties on taxes owed to the taxman.

Taxpayers and clients owe the state more than N$60 billion.

The Namibia Revenue Agency (NamRA) says that from that amount, the capital debt amount accounts for only N$15 billion, while the rest is from interest and penalties.

Tax Amendment Bill tabled in National Assembly to provide relief to taxpayers

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The Namibian government wants to implement new measures to provide relief to taxpayers through the introduction of an Income Tax Amendment Bill, tabled in the National Assembly this week.

Motivating the bill, Deputy Finance Minister Maureen Hinda-Mbuende proposed a rise in the threshold for the pension fund deductible amount, from N$40 thousand to N$150 thousand.

It also suggests a rise in the taxable amount for educational expenditures to encourage taxpayers to save more for their children.