# 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)

• 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%))