Taxpayers owe NamRA billions
Between January and November 2021, about N$8 billion and over N$265 million in penalties and interest respectively were waived.
11 January 2022 | Economics
We remain cognisant of the fact that not all taxpayers are computer literate and might not be able to file their tax returns on their own. NamRA
At the end of November 2021, the Namibia Revenue Agency (NamRA) collected 71% of the Treasury’s revenue target of N$49.4 billion for the financial year 2021/22.
In addition, 264 710 taxpayers owed the agency over N$162 billion in capital tax debt, according the agency’s newsletter. NamRA is currently running an electronic filing tax relief program to assist taxpayers with outstanding tax amount.
The relief provides for the waiver of 100% of penalties and 75% of interests on the settlement of the capital outstanding tax amount and will end on 31 January 2022.
About N$8 billion and over N$265 million in penalties and interest respectively were waived, which was owed by around 23 thousand businesses and more than 11 thousand individual taxpayers who participated in the relief between January and November 2021, the letter reads.
The agency says it has seen an increase in the taxpayers engaging them regarding the relief but is concerned about the outstanding tax amount and the remaining period for the relief.
Taxpayers are urged to participate and benefit from this relief in order to become tax compliant.
The relief was initiated to assist taxpayers who found it difficult to settle their outstanding tax debts, especially businesses that were affected by the Covid-19 pandemic.
Some individual taxpayers were also finding it hard to clear their dues as Covid-19 negatively affected our economy at all levels. Participants are required to register as e-filers and must first file tax returns on Integrated Tax Administration System (ITAS) and then pay the capital outstanding amount to qualify for the relief, the letter pointed out.
“We remain cognisant of the fact that not all taxpayers are computer literate and might not be able to file their tax returns on their own. Special help desks have been set up at all our regional offices and taxpayers are encouraged to seek assistance there,” NamRa [email protected]