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Drastic new Namibian tax law proposals

Wednesday, 17 October 2018   (0 Comments)
Posted by: Authors: Peter Dachs and Lavina Daya
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Authors: Peter Dachs and Lavina Daya (ENSafrica)

In the Namibian Budget Speech held in March 2018, far-reaching reforms to the Namibian tax system were proposed, promising to substantially change the basis of taxation in Namibia and impact existing and new business transactions in the country. The key details of these tax proposals are summarised below. 

Introduction of a residency basis of taxation

A significant proposal relates to the introduction of a residency basis of taxation which will apply to “residents” of Namibia as defined with effect from: 

  • in the case of any taxpayer, other than a company, at the commencement of the year of assessment commencing on or after 1 March 2019; and
  • in the case of any taxpayer that is a company, at the commencement of the year of assessment of such company on or after 1 January 2019. 

The definition of “gross income” in section 1 of the Income Tax, 1981 will be amended to provide for the taxation of the total amount received or accrued to a Namibian resident, regardless of the source of the income. In the case of a non-resident, gross income is defined to mean the total amount received by or accrued to or in favour of such person from a source within or deemed to be within Namibia. As such, residents of Namibia will be subject to tax on their worldwide income and non-residents only on Namibian sourced income. 

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