Tax First Newsletter

Providing you with informed commentary on current developments in the local tax and business arena.

Our monthly 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.

Tax First November issue

Treatment of trading stock at year end for Income Tax purposes

If you have stock on hand at year end, what kind of stock is it? Does it consist of items you purchased for sale or items you purchased to be used in the manufac-turing process? If yes, the cost of these items are automatically included in your taxable income as part of your cost of sales calculations and no tax adjustment is required.

If no, refer to the consumables and spares discussion below. Please note that the principles discussed here are NOT applicable to farming operations.

Also in this issue:

  • Maintaining of proper rec-ords for VAT purposes
  • PwC Business School Training Calendar
  • New Legislation Tracker
  • Tax Calendar - November 2018

 

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Contact us

Johan Nel
Partner/Director, PwC Namibia
Tel: +264 61 284 1122
Email

Chantell Husselmann
Tax Leader, PwC Namibia
Tel: +264 61 284 1327
Email

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