The Namibia Revenue Agency (Namra) has warned unscrupulous individuals who create ghost trading companies to defraud tax, that the law will catch up with them.
According to a statement issued by the agency on Thursday, this follows the arrest of two business people in June 2022 and January 2023 after the conclusion of Namra investigations into the issue.
The agency said this criminal practice takes the form of a missing trader intra-community fraud, resulting in the theft of value-added tax (VAT) from the state by organized criminal groups relying on the abuse of VAT rules for cross-border transactions.
He said at the moment, N$299 million is linked to the fraudulent deferred import VAT, while the amount for income tax has not been determined yet.
Source: namibian.com.na
