Land tax: Farmers get a break
ELLANIE SMIT
WINDHOEK
The Namibia Agriculture Union (NAU) says the Cabinet has approved a zero land-tax rate for 2019/2020 to mitigate the impact that Covid-19 had on farmers.
Agriculture minister Calle Schlettwein requested the National Assembly to grant farmers 100% land tax relief for the 2019/2020 financial year, due the impact that Covid-19 has had on the agriculture sector.
No land tax payments have been made in the past five years, which means farm owners are now assessed for the financial years from 2016/2017 to 2020/2021.
The land tax rate is currently 0.4% for Namibian farm owners and 1.4% for foreigners. Tax of 0.25% is payable for each additional farm.
“The NAU wishes to express appreciation for the efforts to the minister in this regard.”
The union added that the 2007 to 2012 valuation roll will be applicable to all five outstanding years.
Furthermore, 0.25% progressive tax rate is applicable to all farmers who own more than one farm.
Procedure
According to the NAU the agriculture ministry has indicated the following steps for the roll-out of the approvement of the zero land-tax rate.
It said that the decision to waive the payment of land tax for 2019/2020 needs to be officially gazetted in the Government Gazette to become applicable.
“The ministry is planning to process and print all land-tax assessments before the end of 2021. It is planned that all assessments will be sent out to landowners during January/February 2022, whereafter payment needs to be made within six months. Landowners are urged to make provision for these payments in their cash flow planning for 2022,” the NAU said.
[email protected]
WINDHOEK
The Namibia Agriculture Union (NAU) says the Cabinet has approved a zero land-tax rate for 2019/2020 to mitigate the impact that Covid-19 had on farmers.
Agriculture minister Calle Schlettwein requested the National Assembly to grant farmers 100% land tax relief for the 2019/2020 financial year, due the impact that Covid-19 has had on the agriculture sector.
No land tax payments have been made in the past five years, which means farm owners are now assessed for the financial years from 2016/2017 to 2020/2021.
The land tax rate is currently 0.4% for Namibian farm owners and 1.4% for foreigners. Tax of 0.25% is payable for each additional farm.
“The NAU wishes to express appreciation for the efforts to the minister in this regard.”
The union added that the 2007 to 2012 valuation roll will be applicable to all five outstanding years.
Furthermore, 0.25% progressive tax rate is applicable to all farmers who own more than one farm.
Procedure
According to the NAU the agriculture ministry has indicated the following steps for the roll-out of the approvement of the zero land-tax rate.
It said that the decision to waive the payment of land tax for 2019/2020 needs to be officially gazetted in the Government Gazette to become applicable.
“The ministry is planning to process and print all land-tax assessments before the end of 2021. It is planned that all assessments will be sent out to landowners during January/February 2022, whereafter payment needs to be made within six months. Landowners are urged to make provision for these payments in their cash flow planning for 2022,” the NAU said.
[email protected]
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