Staff Reporter
THE Namibia Revenue Agency (NamRA) and the Namibia Investment Promotion and Development Board (NIPDB) recently signed a Memorandum of Understanding (MoU) aimed at enhancing competitiveness and simplifying the process of doing business in Namibia.
NIPDB explained that the MoU is designed to promote investments by creating a more efficient and investor-friendly regulatory environment.
The MoU, NIPDB added, primarily focuses on streamlining income tax and Value Added Tax (VAT) registration processes, enhancing the administration and enforcement of revenue laws, and fostering joint consultations on policies affecting investment.
NamRA Commissioner Sam Shivute stressed the importance of expanding the tax base to strengthen domestic resource mobilisation, emphasising that this can only happen with economic diversification.
“The signing of this memorandum of understanding is a commitment for us to improve service delivery. This is both to our taxpayers, to our investors, and to everyone who wants to do business with Namibia,” Shivute said.
Further highlighting the significance of the MoU, the Chief Executive Officer (CEO) of the NIPDB, Nangula Uaandja, added that it will complement the work of both NIPDB and NamRA.
“I believe that our two institutions play a complementary role in supporting the government and the Namibian people. As promoters and marketers of Namibia, we are competing significantly on an international level. Because of that competition, we need to ensure that our service providers, our regulators, and others are providing services in a manner that makes doing business in Namibia easier,” Uaandja said.
