NamRA nets corporate tax avoiders
Compliance strategy in action
NamRA's efforts to catch tax avoiders have paid off.
Namibia Revenue Agency (NamRA) commissioner Sam Shivute says the introduction of a tax compliance and enforcement strategy has ensured the tax authority will be able to recover millions in revenue lost to tax evasion and avoidance.
Shivute made the comments during an update on the agency’s performance following the collection of N$45.1 billion in taxes for the period 1 April to 30 September.
“If one looks at the tax adjustments, that is only about N$646 million; however, there are other areas for tax collection,” he said on the revenues that would be lost because of the finance ministry's adjustments to tax brackets.
“We have developed a compliance and reinforcement strategy, and there have been some sectors that have not been contributing. There are some businesses who have been declaring losses year after year; because of the strategy, they are paying in the region of N$100 million, N$200 million, so we are not worried. We are happy there was some tax relief,” Shivute said.
N$7bn more
Commenting on the taxes collected, he said NamRA was able to collect N$7 billion more, in comparison to the same period last year.
“We are pleased to report that from 1 April to 30 September, NamRA has collected a net amount of N$45.1 billion. This represents an increase of N$7.1 billion compared to the same period last year, where N$38 billion had been collected by September 2023,” Shivute said.
“This collection equates to 52.87% of the revenue target of N$85.3 billion set for the current financial year, underscoring our continued efforts to enhance revenue collection and improve tax compliance across the nation,” he added.
Shivute pointed out that the tax amnesty programme, which ends on 31 October, will not be extended - despite wide public appeals.
“With only 14 days remaining before the amnesty deadline, we urge all taxpayers to take advantage of this final opportunity. Our offices are open nationwide and our staff are ready to assist taxpayers with filing their returns and applying for the amnesty. Our advice is for everyone to avoid waiting until the last minute. Let’s act now to benefit from this programme."
Shivute made the comments during an update on the agency’s performance following the collection of N$45.1 billion in taxes for the period 1 April to 30 September.
“If one looks at the tax adjustments, that is only about N$646 million; however, there are other areas for tax collection,” he said on the revenues that would be lost because of the finance ministry's adjustments to tax brackets.
“We have developed a compliance and reinforcement strategy, and there have been some sectors that have not been contributing. There are some businesses who have been declaring losses year after year; because of the strategy, they are paying in the region of N$100 million, N$200 million, so we are not worried. We are happy there was some tax relief,” Shivute said.
N$7bn more
Commenting on the taxes collected, he said NamRA was able to collect N$7 billion more, in comparison to the same period last year.
“We are pleased to report that from 1 April to 30 September, NamRA has collected a net amount of N$45.1 billion. This represents an increase of N$7.1 billion compared to the same period last year, where N$38 billion had been collected by September 2023,” Shivute said.
“This collection equates to 52.87% of the revenue target of N$85.3 billion set for the current financial year, underscoring our continued efforts to enhance revenue collection and improve tax compliance across the nation,” he added.
Shivute pointed out that the tax amnesty programme, which ends on 31 October, will not be extended - despite wide public appeals.
“With only 14 days remaining before the amnesty deadline, we urge all taxpayers to take advantage of this final opportunity. Our offices are open nationwide and our staff are ready to assist taxpayers with filing their returns and applying for the amnesty. Our advice is for everyone to avoid waiting until the last minute. Let’s act now to benefit from this programme."
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