Registration Registration

 

Registration

Employees Tax(ETX)

Who is liable to register as an employer?

  • Any entity or person employs any person that earns taxable income is liable to register as an employer for Employees Tax.

Withholding Tax on Services

Any Namibian that pays any fees, such as directors or management fees to a non-resident must withhold tax on services at the rate of 25%. Such tax must be paid to the Receiver of Revenue within 20 days after the end of the month during which such tax was withheld.

Income Tax (ITX)

Who is liable to pay Income Tax?
  • Any person earning a salary or any income from other sources   such as farming, business, rental, etc
    Person includes: Individuals (natural persons, trusts, estates)
    Juristic persons (companies, close corporations, and other organizations).
  • Individuals who earn income exceeding the threshold of N$ 40 000 per annum are taxed at progressive marginal rates over   a series of income brackets.

Value Added Tax (VAT)

  • TWO TYPES:
    COMPULSORY: Taxable turnover (excl VAT)exceeds N$500 000.00
    VOLUNTARY:    Taxable turnover less than N$500 000.00

Withholding Tax on Interest

  • Any Namibian bank or unit trust that pays interest should withhold a tax at the rate of 10% from such interest. The tax withheld on interest should be paid to the receiver of revenue on or before 20th of the following month after the decision.