Category: Namibia

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,...

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...

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...

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...

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...

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,...

Indigenous knowledge is imperative

There is a great need to protect traditional knowledge in order to curb the exploitation of holders of indigenous knowledge, particularly the elderly. It has been observed that the elderly have indigenous knowledge but their wisdom is being stolen from them and used for commercial purposes while they languish in...

From parliament …Venaani attacks transfer pricing

DTA of Namibia president McHenry Venaani suspects that the majority of fishing and mining companies are involved in transfer pricing because of the lack of capacity in the government to control the dodgy practice. Venaani made the remarks in the National Assembly on Wednesday during his statement on the budget,...