TAX UPDATE

15 OCTOBER 2014SAFARI COURT HOTEL

Presented by: Sam SHIVUTECOMMISSIONER : INLAND REVENUE

MINISTRY OF FINANCE Inland Revenue

ITAS UPDATE

BPR UPDATE

The current of N$200 000 is set in respect of annual taxable turnover, and a person whose annual taxable supplies exceed such limit is automatically a registered person whether he registers or not. The VAT threshold is N$200 000 in any 12-month period.

Taxable supplies mean the value of zero rated supplies and standard rated supplies and do not include exempt supplies.

In a case where taxable supplies does not exceed N$200 000 per annum, the Commissioner may permit VOLUNTARY REGISTRATION

TRANSFER DUTY UPDATE

Total Number of objection received: 304 Total number dealt with: 131 Pending objection cases: 173

Received Completed Pending

Windhoek 161 33 128

Otjiwarongo 10 7 3

Oshakati 50 31 19

Walvisbay 82 59 23

Rundu 1 0 1

Keetmanshoop 1 1 0

Volume of old objections

Backlog

The Human Resource Capital 

New guidelines developed

Forged good standing certificate

Press release in due time