Namibia joins international taxation initiative
This was revealed by the Organisation for Economic Cooperation and Development (OECD) last Friday in an announcement made on its website. ... - Continue reading
Category: Namibia
FIC denies ignoring SME Bank looting
THE director of the Financial Intelligence Centre, Leonie Dunn, says the centre did not turn a blind eye to the disappearance of around N$350 million from the now-defunct SME Bank. ... - Continue reading
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
EU to delist Namibia as a tax haven
THE European Union has decided to remove Namibia from the list of 17 countries regarded as tax havens due to lax practices and regulations on tax governance. Namibia was blacklisted in December last year, and is currently one of the six territories countries which are still blacklisted, while the other… – Continue reading
Namibia has 18 months to sort out “tax haven mess” – EU
Namibia has 18 months to sort out “tax haven mess” – EU Namibia has 18 months, up to June 2019 to comply with the European Union (EU) demand that it joins the Global Forum on Transparency and Exchange of Information for Tax purposes and to sign, ratify and participate in… – 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
Namibia: Judges to Combat Money Laundering, Financing of Terrorism
Senior judges and magistrates from 13 out of 17 Eastern and Southern African Anti-Money Laundering Group Member States will gather in Swakopmund next week for a judicial retreat. The main purpose of the meeting will be to deliberate on issues related the effective and timely adjudication of civil and criminal… – 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
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… – Continue reading
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,… – 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
