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Taxation in Namibia

This is an overview of taxes charged to individuals and companies in Namibia.

Income TaxEdit

Personal income tax is applicable to total taxable income of an Individual and all individuals are taxed at progressive marginal rates over a series of income brackets. The tax year runs from 1 March to 28 February.

Tax rates for the 2010/2011 to 2012/2013 tax years were as follows:[1]

Taxable amount Rates of tax
Where the taxable amount does not exceed N$ 40 000 0%
between N$ 40 001 and N$ 80 000 27% of the amount by which the taxable amount exceeds N$ 40 000
between N$ 80 001 and N$ 200 000 N$ 10 800 + 32% of the amount by which the taxable amount exceeds N$ 80 000
between N$ 200 001 and N$ 750 000 N$ 49200 + 34% of the amount by which the taxable amount exceeds N$ 200 000
over N$ 750 000 N$ 236 200 + 37% of the amount by which the taxable amount exceeds N$ 750 000

Tax rates proposed for the 2016/2018

tax year are as follows:[2]

Taxable amount Rates of tax
Where the taxable amount does not exceed N$ 50 000 0%
between N$ 50 001 and N$ 100 000 18% of the amount by which the taxable amount exceeds N$ 50 000
between N$ 100 001 and N$ 300 000 N$ 9 000 + 25% of the amount by which the taxable amount exceeds N$ 100 000
between N$ 300 001 and N$ 500 000 N$ 59 000 + 28% of the amount by which the taxable amount exceeds N$ 300 000namebia
between N$ 500 001 and N$ 800 000 N$ 115 000 + 30% of the amount by which the taxable amount exceeds N$ 500 000
between N$ 800 001 and N$ 1 500 000 N$ 205 000 + 32% of the amount by which the taxable amount exceeds N$ 800 000
over N$ 1 500 000 N$ 429 000 + 37% of the amount by which the taxable amount exceeds N$ 1 500 000

Income tax is typically withheld by the employer.

Individuals are responsible for submitting a tax return form to the Receiver of Revenue once a year. Individual taxpayers are categorised into three groups each submitting a different colour tax return. There are brown, blue and yellow forms. [3]

Value Added TaxEdit

A 15% Value added tax (VAT) is applicable to almost every commodity. Basic commodities like sugar, bread etc. are exempted from VAT.[4]

See alsoEdit

ReferencesEdit