Category: Namibia

New EU rules on tax avoidance now effective

FIRST proposed by the European Commission (EU) in 2016, a set of new tax rules aimed at eliminating most common corporate tax avoidance practices came into force on 1 January 2019. The commission posted on its website on 30 December 2018 that the new tax rules known as Atad (anti-tax… – Continue reading

Retrospectiva2015: Angolan diplomacy in the context of diversification of the economy

Luanda – Throughout the year just ended, as in the previous, the country’s economy “found himself grappling” with a major setback if they can be considered, due to the continued drop in oil prices, which is in the house $ 37 a barrel, far from the historic $ 122 value,… – Continue reading

ATAF pushes for scrapping of double taxation

THE African Tax Administration Forum (ATAF) has come up with a draft document on avoidance of double taxation and prevention of fiscal evasion within the continent. The Zimbabwe Revenue Authority (Zimra), a member of ATAF, has said avoidance of taxation and prevention of fiscal evasion was with respect to taxes… – Continue reading

Minister Calle explains solidarity tax

MINISTER of finance Calle Schlettwein said yesterday that the solidarity tax will be introduced as an income tax for individuals according to their income scale. He said the tax will also be a flat amount levied from juristic persons (closed corporations, partnerships, trusts and companies), based on the average per… – Continue reading

Govt to add more and raise taxes

AMidst the continued decline in the country’s Southern African Customs Union (SACU) receipts, government has decided to enhance domestic revenue which will see the introduction of new taxes and a possibility of increasing some. Minister of Finance Martin Dlamini speaking during breakfast meeting hosted by the Federation of Swaziland Employers… – Continue reading

Inland Revenue confirms transfer pricing unit

Windhoek Namibia’s Inland Revenue has established a transfer pricing unit. “We will be asking you for transfer pricing supporting documents soon,” said Acting Commissioner for Inland Revenue, Justus Mwafongwe, at the recent annual tax symposium hosted by the PwC’s Namibia Business School. Mwafongwe confirmed that the draft amendment bills to… – Continue reading

Regional Co-operation on Taxation: Avoiding harmful tax competition

The objectives of the Southern African Development Community (SADC) Protocol on Finance and Investment include enhancing the productive capacity of the economies in the region and thereby increasing trade opportunities to eventually alleviate poverty. To achieve the objectives, various strategies can be employed, including, among others, improving the investment regime,… – Continue reading

Regional co-operation on investment – What does it involve?

CO-OPERATION on investment within the SADC region is an integral part of achieving the overarching objectives of the SADC Treaty. Investment, be it foreign direct investment, cross-border investment or domestic investment is needed to enhance the productive capacity in the region, which is a pre-requisite for increasing trade across borders… – Continue reading

Namibia: ACC to Look Into Swiss Leaks

NAMIBIANS who have Swiss bank accounts could face an Anti-Corruption Commission investigation if they evaded tax and money was transferred after the graft body was established. ACC director Paulus Noa told The Namibian yesterday that the ACC can only investigate the accounts if any Namibian holders of Swiss bank accounts… – Continue reading