Revenue agency bill tabled
Minister of Finance Calle Schlettwein on Tuesday tabled the Namibia Revenue Agency Bill of 2017 in the National Assembly, saying it will transform the existing Department of Inland Revenue and the Directorate of Customs and Excise.
The bill is an establishing law for a semi-autonomous revenue agency to be known as the Namibia Revenue Agency (Namra).
Motivating the bill, Schlettwein said the institution will act in the interest of the State and streamline the collection and processing of revenue using 79% of the ministry's staff.
“This new institution will serve as the agency for the State, with the primary function of assessment and collection of public revenue for the benefit of the State Revenue Fund as well as the administration of revenue and customs and excise laws,” he explained.
Namibia, he noted, is a resource-based economy, which comes with the associate complexity of potential illicit financial flows, transfer pricing, profit shifting and other base-eroding tax planning activities.
NAMPA
The bill is an establishing law for a semi-autonomous revenue agency to be known as the Namibia Revenue Agency (Namra).
Motivating the bill, Schlettwein said the institution will act in the interest of the State and streamline the collection and processing of revenue using 79% of the ministry's staff.
“This new institution will serve as the agency for the State, with the primary function of assessment and collection of public revenue for the benefit of the State Revenue Fund as well as the administration of revenue and customs and excise laws,” he explained.
Namibia, he noted, is a resource-based economy, which comes with the associate complexity of potential illicit financial flows, transfer pricing, profit shifting and other base-eroding tax planning activities.
NAMPA
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