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. 

Statutory Tax Rates

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

 

Tax Calculation(s)