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.
All persons who earn income of more than N$50,000 in a year from one or multiple sources should complete an application for registration as a taxpayer.
All businesses that make annual taxable supplies of more than N$500,000 must apply for Value Added Tax registration.
The table below depicts the income tax rates for 2019 / 2020.
|Where the taxable amount-||Tax Rate|
|Does not Exceed N$ 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|
Tax Return Deadlines
Individual business owners – 30 June
Companies and Close Corporations – 7 months after year end
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