Schedule 17: Calculation of Tax payable

Schedule 17 facilitates the tax payer when calculating their annual tax due.

Taxable Income: Less than N$ 50 000

No tax is payable where the taxable amount does not exceed N$ 50,000. In such an event the taxpayer is not liable to pay income tax.

TAXABLE AMOUNT	TAX RATES
Where the taxable amount does not exceed N$ 50 000	No tax payable
Exceeds N$ 50 000 but does not exceed N$ 100 000	18% of the amount by which the taxable amount exceeds N$ 50 000
Exceeds N$ 100 000 but does not exceed 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 exceed 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 exceed N$ 1 500 000	N$ 205 000 plus 32% of the amount by which the taxable amount exceeds N$ 800 000
Exceeds N$ 1 500 000	N$ 429 000 plus 37% of the amounbt by which the taxable amount exceeds N$ 1 500 000

Taxable amount between N$ 50 000 and N$ 100 000
Calculation: ((Total taxable amount - N$ 50 000) x 18%)
Taxable amount between N$ 100 000 and N$ 300 000
Calculation: (N$ 9 000 + ((Total taxable amount - N$ 100 000) x 25%))
Taxable amount between N$ 300 000 and N$ 500 000
Calculation: (N$ 59 000 + ((Total taxable amount - N$ 300 000) x 28%))
Taxable amount between N$ 500 000 and N$ 800 000
Calculation: (N$ 115 000 + ((Total taxable amount - N$ 500 000) x 30%))
Taxable amount between N$ 800 000 and N$ 1 500 000
Calculation: (N$ 205 000 + ((Total taxable amount - N$ 800 000) x 32%))
Taxable amount that exceeds N$ 1 500 000
Calculation: (N$ 429 000 + ((Total taxable amount - N$ 1 500 000) x 37%))