Tax
Source-based income tax, 30 per cent company rate and 15 per cent VAT
Namibia taxes on a source basis. The general company rate has been reduced in stages toward 30 per cent, with mining and diamond mining taxed at higher dedicated rates. VAT is 15 per cent. There is no capital gains tax as such, though certain disposals — notably mineral and petroleum licences — are brought into income.
Key rules
- Jurisdiction — The Namibia Revenue Agency assesses; objections lie to the Commissioner; appeals to the Special Court for Income Tax Appeals.
- Deadline — Company return: within 7 months of financial year end
- Deadline — Provisional tax: two payments, at 6 and 12 months
Governing law
- Income Tax Act 24 of 1981
- Value-Added Tax Act 10 of 2000
- Petroleum (Taxation) Act 3 of 1991
In practice
The absence of a general CGT combined with source taxation is the defining planning feature, and the reason mineral-licence disposals were specifically legislated into the income charge — otherwise the largest gains in the economy would have escaped entirely.