Tax measures in budget 2022-2023
The budget for 2022-2023, presented 24 February 2022, does not include proposed amendments to the corporate income tax rate.
However, the budget includes the following tax-related proposals:
- Reduction of the non-mining company tax rate
- Amendments to the income tax law that would increase the tax deductibility of retirement, pension fund, and educational policy contributions and that would reinforce a requirement that taxpayers provide proof of payment of withholding tax on services
- Value added tax (VAT) amendments to propose a “zero rating” for sanitary pads
- Incentives to encourage electronic filing of tax returns
- Increased “sin taxes” or excise taxes that generally apply for alcoholic beverages and tobacco products
Source KPMG
See also VAT rates in Namibia
