{"id":364580,"date":"2024-10-19T15:00:00","date_gmt":"2024-10-19T13:00:00","guid":{"rendered":"https:\/\/informante.web.na\/?p=364580"},"modified":"2024-10-18T17:09:00","modified_gmt":"2024-10-18T15:09:00","slug":"namra-collects-n45-1-billion-in-tax-from-april-to-september-2024","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=364580","title":{"rendered":"NamRA collects N$45.1 billion in tax from April to September 2024"},"content":{"rendered":"\n

Staff Reporter<\/p>\n\n\n\n

THE Namibian Revenue Agency (NamRA) has announced that from 1 April to 30 September 2024, it collected a net amount of N$45.1 billion in taxes. This represents an increase of N$7.1 billion compared to the same period last year, when N$38 billion had been collected by September 2023.<\/p>\n\n\n\n

Sam Shivute, Commissioner of the Namibia Revenue Agency, said that this collection equates to 52.87% of the revenue target of N$85.3 billion set for the current financial year, underscoring NamRA\u2019s continued efforts to enhance revenue collection and improve tax compliance across the nation.<\/p>\n\n\n\n

\u201cIt is further important to note that the revenue generated for the period under review is made up of 65% from Domestic Taxes and 35% from Customs and Excise. In terms of refunds, N$5.1 billion was disbursed to taxpayers following audits and verifications, with N$4.8 billion, accounting for 95%, relating to Value-Added Tax refunds,\u201d Shivute said.<\/p>\n\n\n

\n
\"\"
TAX MAN: Sam Shivute, the Commissioner of the Namibia Revenue Agency.<\/figcaption><\/figure>\n<\/div>\n\n\n
\n\n\n\n

The Commissioner further stated that NamRA has implemented the Tax Amnesty Programme since 1 April 2023, aimed at providing relief to taxpayers struggling to settle their outstanding tax liabilities. The amnesty offers a 100% waiver on interest and penalties, contingent upon the settlement of capital tax debts and the submission of tax returns through the Integrated Tax Administration System (ITAS). The programme is expected to close on 31 October 2024.<\/p>\n\n\n\n

\u201cFrom 1 April 2023 to 30 September 2024, a total of 128,060 taxpayers had participated in the programme, with the majority having already initiated payments. The programme has so far generated N$4.3 billion in revenue, with N$4.01 billion contributed by businesses, N$164 million by individual taxpayers, N$51 million by trusts, and N$31 million from government institutions. A key objective of the amnesty is to encourage taxpayers to register as e-filers on ITAS. To date, ITAS has registered an impressive 528,086 taxpayers, reflecting a strong acceptance of this online system. Under the amnesty\u2019s terms, NamRA has written off N$1.2 billion in interest and waived N$25.9 billion in penalties for accounts where the full capital was settled or where no capital was due,\u201d Shivute said.<\/p>\n\n\n\n

He added that with only 14 days remaining before the amnesty deadline, NamRA urges all taxpayers to take advantage of this final opportunity.<\/p>\n\n\n\n

\u201cOur 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\u2019s act now to benefit from this programme,\u201d Shivute said.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Staff Reporter THE Namibian Revenue Agency (NamRA) has announced that from 1 April to 30 September 2024, it collected a net amount of N$45.1 billion in taxes. This represents an increase of N$7.1 billion compared to the same period last year, when N$38 billion had been collected by September 2023. Sam Shivute, Commissioner of the …<\/p>\n","protected":false},"author":10,"featured_media":364582,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-364580","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news"],"yoast_head":"\nNamRA collects N$45.1 billion in tax from April to September 2024 - Informant\u00e9<\/title>\n<meta name=\"description\" content=\"THE Namibian Revenue Agency (NamRA) has announced that from 1 April to 30 September 2024, it collected a net amount of N$45.1 billion...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/informante.web.na\/?p=364580\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NamRA collects N$45.1 billion in tax from April to September 2024 - 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