Income received from selling farm animals and game, leasing land for grazing and agricultural products is taxable. A farmer will also be taxed on the livestock or produce that has been donated or consumed.
Each farmer is required to indicate the number of farm animals at the beginning (01 March) and at the end of the year (28 Feb) in the income tax return.
A farmer is allowed to deduct all general expenses relating to farming operations, such as fodder and lick and rations for farm laborers.
Capital expenses that a farmer is allowed to deduct from income include:
The total of the capital expenses that can be deducted may not create a loss.
A complete list can be found under Schedule 1 to the Income Tax Act, Act 24 of 1981.
Each farmer is required to keep all the sales and purchases invoices, bank statements and any other bookkeeping records and submit them to Inland Revenue when requested to do so.
Tax Return
Each farmer must submit a self-assessment return of income: Individual Business & or Farmers (yellow tax return for farmers) on or before 30 September of each year.
30 September 2024
The table below depicts the individual income tax rates for 2019 / 2020.
| Where the taxable amount- | Tax Rate |
|---|---|
| Does not Exceed N$ 50 000 | No tax payable |
| Exceeds N$ 50 000 but does not exceeds N$ 100 000 | 18% of the amount by which the taxable amount exceeds N$ 50 000 |
| Exceeds N$100 000 but does not exceeds N$ 300 000 | N$9 000 plus 25% of the amount by which the taxable amount exceeds N$ 100 000 |
| Exceeds N$ 300 000 but does not exceeds N$ 500 000 | N$ 59 000 plus 28% of the amount by which the taxable amount exceeds N$ 300 000 |
| Exceeds N$ 500 000 but does not exceed N$ 800 000 | N$ 115 000 plus 30% of the amount by which the taxable amount exceeds N$ 500 000 |
| Exceeds N$ 800 000 but does not exceeds N$ 1 500 000 | N$ 205 000 plus 32% of the amount by which the taxable amount exceeds N$ 500 000 |
| Exceeds N$ 1 500 000 | N$ 429 000 plus 37% of the amount by which the taxable amount exceeds N$ 1 500 000 |
Information Brochure - Tax on Farming Activities
Information Brochure - Tax on Farming ActivitiesNamibia has adopted a Self-Assessment System. Under this system all taxpayers are required to compute their taxable income and file tax returns by the due date on an annual basis. Income received from selling farm animals and game, leasing land for g
An employer is any person who pays an amount by way of remuneration to an employee. Each person who becomes an employer is required to apply to Inland Revenue Department for registration as an employer within 14 days of becoming an employer. An empl
VAT is levied at the standard rate of 15% on the supply of most goods and services and on the importation of goods. It is mandatory for a person who carries on a business with an annual taxable turnover above N$500,000 to apply for VAT registration.
The Withholding of Tax is a tax charged on interest paid by any person to or for the benefit of a foreign person (which includes individuals, companies, etc) from a source within Namibia. The foreign person is responsible for the tax, but it must be
What is Gross Income?
What is Value-Added Tax?
Who is classified as a taxpayer representative?
Any person who earns a salary of more than N$ 50,000 per annum should register as a taxpayer and submit the proof of registration to their employer. An amount contributed to an approved pension or provident fund as a con
For tax purposes, all income earned from any business activities carried out in Namibia is taxable. This income is regarded as ordinary income for tax purposes. Hair Salon: Whether the salon is operated from city centre, town, informal m
Any person earning taxable income in excess of N$ 50,000 per annum that is not received in the form of remuneration is required to register as a provisional taxpayer. Any directors of a private company (including members of close corporations) are a
Information Brochure - How to Register on ITAS Information Brochure - ITAS password reset
Information Brochure - Tax Payments Information Brochure - General Tax Information Information Brochure - Consequences of Non-compliance
In Namibia all individuals are treated the same for tax purposes, regardless of their marital status, gender and age. Trusts, deceased and insolvent estates are also taxed on the same basis as individuals. Individuals subject to tax include, but ar