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Chartered accountant Primus Shaapopi.
Photo: Contributed
Chartered accountant Primus Shaapopi. Photo: Contributed

JUST IN: Expanding knowledge on tax in Namibia

Wetumwene Shikage
Primus Shaapopi is a chartered accountant with an interest in taxation. He recently shared an opinion piece shedding light on taxation in Namibia.

He defined taxes as a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services and transactions.

He said tax dynamics need to be understood clearly. When not clearly understood, they often lead to misconceptions.

“There is a common misconception that the person liable for tax is the person that is required to pay the tax. This is not always the case. Often, the person actually paying tax does so on behalf of the person who is liable to pay the tax. To some degree, in Namibia, most employers withhold and pay the employee’s taxes to the revenue authority, Namibia Revenue Agency (NamRa),” he said.

He explained that the employee is liable to pay tax, however, the employer is responsible for the actual payment of this tax, and this is an essential concept to understand.

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Namibian Sun 2024-04-30

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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 292.31/OZ DOWN -0.0187 | Copper US$ 4.52/lb DOWN -0.0055 | Zinc US$ 2 923.50/T UP 0.21% | Brent Crude Oil US$ 86.92/BBP DOWN -0.0164 | Platinum US$ 936.07/OZ UP +2.60% Sport results: Premier League: Nottingham Forest 0 vs 2 Manchester City | Bournemouth 3 vs 0 Brighton | Tottenham Hotspur 2 vs 3 Arsenal | Aston Villa 2 vs 2 Chelsea | Everton 1 vs 0 Brentford | Wolves 2 vs 1 Luton Town | Fulham 1 vs 1 Crystal Palace | Manchester United 1 vs 1 Burnley | Newcastle 5 vs 1 Sheffield United | West Ham 2 vs 2 Liverpool LaLiga: Barcelona 4 vs 2 Valencia | Real Betis 1 vs 1 Sevilla | Villarreal 3 vs 0 Rayo Vallecano | Granada 3 vs 0 Osasuna | Cadiz 1 vs 1 Mallorca | Atletico Madrid 3 vs 1 Athletic Club | Deportivo Alaves 3 vs 0 Celta Vigo | Almería 1 vs 3 Getafe | Las Palmas 0 vs 2 Girona SerieA: Genoa 3 vs 0 Cagliari | Fiorentina 5 vs 1 Sassuolo | Napoli 2 vs 2 AS Roma | Atalanta 2 vs 0 Empoli | Bologna 1 vs 1 Udinese | Inter Milan 2 vs 0 Torino | SS Lazio 1 vs 0 Hellas Verona | Juventus 0 vs 0 AC Milan | Lecce 1 vs 1 Monza European Championships Qualifying: Preston North End 0 vs 3 Leicester City | Hull City 3 vs 3 Ipswich Town | Millwall FC 1 vs 0 Plymouth Argyle | Blackburn Rovers 0 vs 0 Coventry City | Watford 1 vs 0 Sunderland | Bristol City 2 vs 0 Rotherham United | Huddersfield Town 1 vs 1 Birmingham City | Sheffield Wednesday 3 vs 0 West Bromwich Albion | Norwich City 2 vs 2 Swansea City | Cardiff City 1 vs 4 Middlesbrough | Southampton 0 vs 1 Stoke City English Championship: Preston North End 0 vs 3 Leicester City | Hull City 3 vs 3 Ipswich Town | Millwall FC 1 vs 0 Plymouth Argyle | Blackburn Rovers 0 vs 0 Coventry City | Watford 1 vs 0 Sunderland | Bristol City 2 vs 0 Rotherham United | Huddersfield Town 1 vs 1 Birmingham City | Sheffield Wednesday 3 vs 0 West Bromwich Albion | Norwich City 2 vs 2 Swansea City | Cardiff City 1 vs 4 Middlesbrough | Southampton 0 vs 1 Stoke City Weather: Katima Mulilo: 13° | 33° Rundu: 13° | 32° Eenhana: 14° | 33° Oshakati: 16° | 32° Ruacana: 15° | 33° Tsumeb: 16° | 31° Otjiwarongo: 15° | 29° Omaruru: 16° | 31° Windhoek: 15° | 28° Gobabis: 16° | 29° Henties Bay: 17° | 30° Wind speed: 21km/h, Wind direction: S, Low tide: 13:33, High tide: 07:25, Low Tide: 02:00, High tide: 20:21 Swakopmund: 16° | 22° Wind speed: 23km/h, Wind direction: SW, Low tide: 13:31, High tide: 07:23, Low Tide: 02:00, High tide: 20:19 Walvis Bay: 19° | 30° Wind speed: 28km/h, Wind direction: SW, Low tide: 13:31, High tide: 07:22, Low Tide: 02:00, High tide: 20:18 Rehoboth: 16° | 29° Mariental: 20° | 32° Keetmanshoop: 21° | 32° Aranos: 18° | 31° Lüderitz: 18° | 33° Ariamsvlei: 18° | 32° Oranjemund: 15° | 32° Luanda: 26° | 29° Gaborone: 18° | 31° Lubumbashi: 12° | 26° Mbabane: 16° | 30° Maseru: 11° | 26° Antananarivo: 13° | 24° Lilongwe: 16° | 29° Maputo: 18° | 33° Windhoek: 15° | 28° Cape Town: 14° | 21° Durban: 19° | 26° Johannesburg: 16° | 26° Dar es Salaam: 24° | 31° Lusaka: 16° | 28° Harare: 13° | 28° Economic Indicators: Currency: GBP to NAD 23.48 | EUR to NAD 20.09 | CNY to NAD 2.59 | USD to NAD 18.82 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.31 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.69 | ZWL to NAD 0.04 | BRL to NAD 3.64 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.21 | USD to AOA 834.06 | USD to BWP 13.69 | USD to EGP 47.8 | USD to KES 134.48 | USD to NGN 1389 | USD to ZAR 18.83 | USD to ZMW 26.75 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 76076.19 Down -0.5% | Namibian Stock Exchange (NSX) Overall Index 1690.93 Down -0.96% | Casablanca Stock Exchange (CSE) MASI 13373.9 Up +0.14% | Egyptian Exchange (EGX) 30 Index 24448.73 Down -6.01% | Botswana Stock Exchange (BSE) DCI 9146.09 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 292.31/OZ DOWN -0.0187 | Copper US$ 4.52/lb DOWN -0.0055 | Zinc US$ 2 923.50/T UP 0.21% | Brent Crude Oil US$ 86.92/BBP DOWN -0.0164 | Platinum US$ 936.07/OZ UP +2.60%