Tax haven discussions positive

The European Union's mission head to Namibia, Jana Hybaskova, says all efforts are being made to ensure that Namibia can be removed from a list of tax havens. An initial list of non-cooperative tax havens adopted by EU ministers also named: American Samoa, Bahrain, Barbados, Grenada, Guam, Macau, the Marshall Islands, Mongolia, Palau, Panama, Saint Lucia, Samoa, South Korea, Trinidad and Tobago, Tunisia and United Arab Emirates. Hybaskova said a recent visit to Brussels, Belgium, by a delegation of the ministry of finance was testament of the desire of both parties to see Namibia removed from the list.This paved the way for progress to be made in removing Namibia from the list. “We are moving forward,” she said last week. According to her, all indications from Brussels were that there was a commitment to resolve the issue in the interest of the EU and Namibia.Namibian Sun earlier quoted Hybaskova as saying: “Namibia is not a member of the Global Forum on Transparency and Exchange of Information for Tax Purposes; has not signed and ratified the Organisation for Economic Cooperation and Development Multilateral Convention on Mutual Administrative Assistance as amended; does not apply the BEPS minimum standards; and did not commit to addressing these issues by 31 December 2019.” This, she clarified, was not her recent statement. This was an EU minister's announcement made when the list was published in December 2017. Finance minister Calle Schlettwein recently tore into the issue of Namibia's identification as a tax haven and called the development unjust and unfair. “There were some unfortunate incidents last year. The EU decided that Namibia is a tax haven … Namibia is not a tax haven. “Tax havens are those countries that attract capital with the promise that there will be no tax paid on the capital invested. We are not doing that,” said Schlettwein. Namibia charged high tax rates, quite the opposite of what tax havens were doing, Schlettwein said“In fact, we are judged as one of the jurisdictions in our region with the highest tax rates. We do not fit the definition of a tax haven.” According to Schlettwein, the list negatively affected Namibia's standing in the international community.“Significant reputational damage has been caused by the listing,” he said. Following the visit by a Namibian delegation to the EU's headquarters in Brussels, Schlettwein said Namibia would not unnecessarily give in to demands in order to be removed from the list. “It is good to engage and I am sure we will reach a positive outcome without budging to unnecessary requests. Let us see what is coming of the engagements. “We must also see how de-listing Namibia from the list of tax havens can be done as soon as possible,” said Schlettwein. As consultations continue, the EU has said Namibia will have to explain and abolish the ring-fencing of taxes on profits of businesses that conduct their activities in Export Processing Zones (EPZs).OGONE TLHAGE

Tax haven discussions positive

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Namibian Sun 2025-07-15

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Tax haven discussions positive

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Namibian Sun 2025-07-15

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