Import tax rates namibia
Please contact for general WWTS inquiries and website support. By submitting your email address, you acknowledge that you have read the Privacy Statement and that you consent to our processing data in accordance with the Privacy Statement. Any new pages will be created in draft mode, please navigate to those pages, fill out and publish normally. VAT is a transaction tax, and the implications will vary for different transactions. Input tax deductions may be claimed, subject to certain provisions. VAT is levied on every taxable supply by a registered person.
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Please contact for general WWTS inquiries and website support. By submitting your email address, you acknowledge that you have read the Privacy Statement and that you consent to our processing data in accordance with the Privacy Statement. Any new pages will be created in draft mode, please navigate to those pages, fill out and publish normally. VAT is a transaction tax, and the implications will vary for different transactions.
Input tax deductions may be claimed, subject to certain provisions. VAT is levied on every taxable supply by a registered person. A taxable supply means any supply of goods or services in the course or furtherance of a taxable activity. A taxable activity means any activity that is carried on continuously or regularly in Namibia that involves the supply of goods or services for consideration. VAT is payable on all imports for home consumption in Namibia, subject to certain exemptions e.
The payment may be deferred in terms of an import VAT account registered with the Directorate of Inland Revenue to the 20th day of the month following the month of importation. The Value-added Tax Act, as amended also makes provision for voluntary VAT registration, provided that taxable supplies exceeded or will exceed NAD , in any month period and the applicant is in good tax standing, has a fixed place of business, and will keep acceptable accounting records.
A registered VAT vendor is entitled to deduct input tax credits paid in the course of taxable supplies made to such person, provided that a tax invoice is available to support the input tax deduction. It is also important to take note of deemed input tax deductions and prohibited input deductions. Import VAT paid may be deducted only as input tax if the import was in furtherance of a taxable activity and the required documentation e. An audit will focus on deposits made into bank statements and whether VAT was charged as required.
It will also focus on whether tax invoices meet the criteria as set out in the VAT Act. Shareholders of companies and members of close corporations may be held liable jointly or severally for VAT debts of the company or close corporation. Excise duties are levied on local production of excisable products e. Identical excise duty rates are applied throughout the SACU.
Importation of excisable products from outside the SACU is subject to customs duties and specific customs duties. Enabling legislation has not been drafted yet. Customs fuel levies are payable on petrol, diesel, and illuminating kerosene. The current customs fuel levies are as follows:. NAD 0. Surety in the form of a provisional payment, bank, or insurance guarantee is required by Customs on most temporary imports to cover import VAT and customs duties if applicable.
It is possible to import goods that are subject to customs duties into registered Customs' bonded warehouses, where goods are kept for later use. In this case, the payment of duties may be deferred until the goods are taken out of the bonded warehouse for home consumption or acquitted if the goods are subsequently exported.
Namibia has introduced the AsycudaWorld customs clearing system, which is a web-based, Java-enabled system utilised at points of entry. All land border posts, airports, and harbours are linked to the AsycudaWorld system.
While it is normally payable by the buyer, the agreement for the sale of the property may determine the person liable to pay these costs. These amendments have not been enacted or promulgated per the Government Gazette. Certain transactions may attract stamp duty.
The amount of stamp duty payable differs and is based on the nature of every individual transaction. Additional stamp duty of NAD 5 for every NAD 1, of debt secured is payable on the registration of a bond over immovable property.
Issued share capital includes ordinary shares, share premium, and preference shares. Since a branch does not issue share capital, the issued share capital of the head office will be used to calculate the annual duty payable in Namibia. Any remuneration paid by an employer to an employee will place an obligation on the employer to withhold employee taxes. The employee taxes are due on the 20th day of the month following the month during which the payment was made.
Both penalties and interest are limited to the amount of tax outstanding. Social security contributions are payable by the employer for employees working in Namibia. It is calculated at 0. Under the Employees Compensation Act, employers are required to contribute to a fund that provides cash benefits for industrial injury, disability, and death.
Employees whose annual remuneration exceeds NAD 81, are normally excluded from coverage. Your message has been sent. Your message was not sent. Please try again. Cancel Send. Corporate Significant developments Taxes on corporate income Corporate residence Other taxes Branch income Income determination Deductions Group taxation Tax credits and incentives Withholding taxes Tax administration. Individual Significant developments Taxes on personal income Residence Other taxes Income determination Deductions Foreign tax relief and tax treaties Other tax credits and incentives Tax administration.
Beer: NAD Spirits whisky, rum, brandy, gin, vodka, etc. Petrol: 3. Diesel and biodiesel: 3. Illuminating kerosene paraffin : 3. The current customs fuel levies are as follows: Petrol: NAD 0. Diesel: NAD 0. Illuminating kerosene paraffin : NAD 0.
Property taxes Property taxes are levied by municipalities based on municipal valuations of properties. Stamp duty Certain transactions may attract stamp duty.
Payroll taxes Any remuneration paid by an employer to an employee will place an obligation on the employer to withhold employee taxes. Social security contributions Social security contributions are payable by the employer for employees working in Namibia.
Workmen's compensation Under the Employees Compensation Act, employers are required to contribute to a fund that provides cash benefits for industrial injury, disability, and death.
Republic of Namibia contacts. Tax First Namibia Newsletter. Namibia Budget Download the speech and slides. PwC Namibia Tax services. Business and Investment Guide for Namibia Download the guide. Agreements or contracts other than those where duty is specifically provided for in the Act.
The stamp duty will be based on lease payments, together with additional considerations specified in the lease agreement.
Namibia - Import TariffsNamibia - Import Tariffs. Includes information on average tariff rates and types that U.S. firms should be aware of when exporting to the. Calculate Duties & Taxes to Namibia. Estimate your tax and duties when shipping to Namibia. Calculate. From. From Import Duty: 6%. Threshold: GBP
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Namibia: Regulations and customs. Excise duties are payable by manufacturers and exporters on certain items like alcoholic beverages.
Regulations and customs in Namibia : Customs
Explore the requirements and rules that apply to indirect taxes in Namibia. Namibia does not have specific place of supply rules, however, the consumption-based rules are applied in Namibia i. A business making taxable supplies that meets the threshold of , Namibian Dollars NAD , or is expected to meet the threshold in a 12 month period is obliged to register for VAT. Yes, if turnover is in excess of NAD, Generally, an entity would need an income tax registration and be registered with the Ministry of Trade as a subsidiary or external company. Bi-monthly, 25 days after the end of the tax period.
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Information on customs requirements and regulations in Namibia. Anything, which is not properly declared, may be detained. NEVER bring into Namibia prohibited goods such as narcotics, illegal drugs in any form, automatic weapons, military weapons, unnumbered weapons, poison and toxic substances. Where the dual channel system is not in operation, report directly to the Customs official on duty and declare all goods in your possession. These goods are subject to customs duty. All goods subject to Customs duties are to be declared with the Customs officials. When Customs officials request you to make a written declaration, the prescribed declaration form must be completed. In order to prove that certain identifiable items, specifically valuables such as jewellery, watches, camera, cine and video cameras, radios, etc. Such items should be produced at your nearest Customs office for identification and registration before your departure from Namibia. Please note that in the event of your valuables not being identifiable by means of a serial number or identification mark, the matter should be discussed timeously with Customs in order to ensure that suitable identification, e.
Variations in regulations mean that exporting can differ from country to country.
