Tax First Newsletter

Tax First Newsletter

A monthly newsletter published by PwC Namibia providing informed commentary on current developments in the local tax and business arena. Our analysis and comments on new law and administrative changes assist business executives to identify developments and trends in law and Inland Revenue practice that might impact their business.

 

February 2015 issue
When calculating company taxes the question of whether an accounting provision is deductible for tax purposes always comes up.

In terms of tax legislation an expense is only deductible for tax purposes if the expense was actually incurred. An accounting provision arises due to a liability that the company may have to pay at some future date. This liability can further be classified as either a conditional liability or an unconditional liability.

 

Also in this issue:

  • Press release: New deposit codes for EFT Tax payments
  • Minimum wage introduced for Domestic Workers
  • Tax Calendar - February 2015

 

Previous issues of Tax First

 
Tax First 2011