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.
The much anticipated Integrated Tax Administration System (ITAS) will go live for taxpayers on 17 January this year. In order to prepare you for the transition, please find below a summary of changes that are required.
The impact of residence-based taxation vs source-based taxation
Namibia is currently applying a source basis of taxation which means that businesses or individuals are taxed on the income which they earn from a Namibia source or deemed source. This implies that if a Namibian entity or individual earns income from a foreign source outside Namibia, such income is not taxable in Namibia.
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