New tax system applauded

28 December 2018 | Ministries

The introduction of the Integrated Tax Administration System (ITAS), which will replace the existing Taxlive legacy system, has been applauded by economist Klaus Schade.

ITAS, which becomes operational from 17 January, will allow taxpayers to submit their returns online and also file requests.

Speaking on the development, Schade praised government for the initiative and said it will cut costs and time for businesses.

“The ministry of finance should be commended for implementing the Integrated Tax Administration System that will cut costs and save time for businesses in terms of filing their tax returns; and hence, it should contribute to a more conducive environment for private sector growth,” he said.

Schade, however, encouraged government to engage the private sector on the new planned tax proposals it wants to implement.

“It is also commendable to engage the private sector in discussions about the proposed income tax reforms,” he said.

Finance ministry permanent secretary Ericah Shafudah recently advised taxpayers to sort out their outstanding issues while the new system is being introduced.

“There will be a two-week downtime for all individual and business transactions before the new system comes into operation, starting from 31 December 2018 until 16 January 2019. This means no processing of any transaction will take place during this period,” she said.

Shafudah also advised that the issuing of good standing certificates and taxpayer registrations will also not be done during the transition period.

She, however, noted that tax payments could still be made during the transition period via electronic fund transfers and direct bank deposits.

Taxpayers will be required to register on the new system once it becomes operational, Shafudah advised.

OGONE TLHAGE

Similar News

 

‘Ghost’ defence attachés unmasked

1 month - 26 October 2021 | Ministries

STAFF REPORTER WINDHOEKThe defence ministry finds itself in hot water after it was found...

Tweya raps agri ministry over knuckles

1 month - 20 October 2021 | Ministries

OGONE TLHAGE WINDHOEKFormer trade minister and chairperson of the Parliamentary Standing Committee on Natural Resources Tjekero Tweya this week tore into the...

Sioka failed children – Smit

1 month - 06 October 2021 | Ministries

JEMIMA BEUKES WINDHOEKGender minister Doreen Sioka has come under fire for allegedly failing...

Ombudsman blasts Utoni

1 month - 05 October 2021 | Ministries

ESTER KAMATI AND JEMIMA BEUKES WINDHOEK The Ombudsman has accused labour minister Utoni Nujoma of abusing his powers as minister by appointing...

Alweendo tells mines to procure locally

2 months ago - 07 September 2021 | Ministries

OGONE TLHAGE WINDHOEK Mines minister Tom Alweendo says mining companies should make greater effort to procure goods and services locally.He made the...

Trade ministry accused of slow service delivery

3 months ago - 19 August 2021 | Ministries

OGONE TLHAGE WINDHOEKSmall and medium-sized enterprises (SMEs) accused trade and industrialisation ministry of being slow when it comes to issuing good standing...

Exodus at treasury

4 months ago - 06 July 2021 | Ministries

MATHIAS HAUFIKUWINDHOEKThree senior officials at the finance ministry have resigned and will leave the ministry at the end of this month.Long-serving executive director Ericah Shafudah...

New ID SMS notification service

6 months ago - 17 May 2021 | Ministries

STAFF REPORTER WINDHOEKThe public will in the future be notified via an SMS notification when their identity documents are ready for...

Home affairs urges Mexican citizenship for Delgado-Lühl twins

6 months ago - 12 May 2021 | Ministries

JANA-MARI SMITH WINDHOEKThe home affairs ministry has issued a brown passport to Yona, the...

No corruption at fisheries – Klazen

6 months ago - 06 May 2021 | Ministries

OGONE TLHAGE WINDHOEKNew fisheries minister Derek Klazen says the ministry is not plagued with corruption, contrary to public opinion.He made the comment...

Latest News

'Kapana' records more international wins...

12 hours ago | Art and Entertainment

‘Kapana’, one of the Ombetja Yehinga Organisation (OYO)’s films, recently won Best Feature Film at the African Diaspora Cinema Festival in Florence (Italy) and Best...

Working hard to make things...

1 day - 26 November 2021 | Business

Johann van Rooyen Having been in the information and communications technology (ICT) business for longer than I remember, I’ve seen it all. Laptops filled with...

Telecom, CRAN reaches agreement...

1 day - 26 November 2021 | Economics

STAFF REPORTERThe Communications Regulatory Authority of Namibia (CRAN) and Telecom Namibia Limited reached a settlement agreement, closing a longstanding dispute on the legality of regulatory...

Investment trends in a decarbonised...

1 day - 26 November 2021 | Economics

PHILLEPUS UUSIKUEnvironmental, social and corporate governance (ESG) issues are material in determining the long run fundamentals of a business and bring about a different approach...

‘Unreliable’ Gustavo lied under oath...

1 day - 26 November 2021 | Justice

Staff Reporter WINDHOEKArguments in the bail application of Fishrot accused Ricardo Gustavo were finalised yesterday, with the State arguing that the Namgomar...

80% of Namibians unvaccinated as...

1 day - 26 November 2021 | Health

Henriette Lamprecht WINDHOEKNamibia is always concerned about the presence of viruses, in whatever form...

Good communicators often undervalued

1 day - 26 November 2021 | Business

Iréne-Mari van der WaltAfter starting his law degree before pursuing a career in broadcasting, Gernot De Klerk would eventually end up at Nedbank Namibia. He...

Grabbing life by the beans...

1 day - 26 November 2021 | Business

Desiree Gases Kalahari Coffee Cooperative was started in 2017 in Windhoek by Brian Wheeler. “We have a hand in every aspect of our coffee...

An excellent aid at GIPF

1 day - 26 November 2021 | Events

Wetumwene Shikage PULL QUOTE: “I know our departmental core objectives thoroughly and assist everyone else within our department to achieve their goals.”As an...

Load More