Namibia: Tax measures in budget 2022-2023

The budget does not include proposed amendments to the corporate income tax rate.

The budget does not include proposed amendments to the corporate income tax rate.

The budget for 2022-2023, presented 24 February 2022, does not include proposed amendments to the corporate income tax rate.

However, the budget includes the following tax-related proposals:

  • Reduction of the non-mining company tax rate
  • Amendments to the income tax law that would increase the tax deductibility of retirement, pension fund, and educational policy contributions and that would reinforce a requirement that taxpayers provide proof of payment of withholding tax on services
  • Value added tax (VAT) amendments to propose a “zero rating” for sanitary pads
  • Incentives to encourage electronic filing of tax returns
  • Increased “sin taxes” or excise taxes that generally apply for alcoholic beverages and tobacco products


Read a March 2022 report [PDF 188 KB] prepared by the KPMG member firm in Namibia

 

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