Itula proposes corporate tax cuts, fewer ministries

Independent Patriots for Change (IPC) presidential candidate Dr Panduleni Itula has criticised the current government’s handling of public resources.He called for a reduction in the number of ministries from 24 to 13, explaining that this would cut down on government spending. He further emphasised the need for ministers to lead by example, advocating for the use of personal vehicles or public transportation rather than relying on government-provided luxury vehicles. “You are a minister, you get a decent salary. Get your own car and come to work. If you can't drive, get into a taxi [and] come to work,” he said. During a recent IPC meeting held in Henties Bay, Itula announced the party’s plan to reduce the country’s tax ‘burden’ if voted into power. Central to his proposal is a reduction in the corporate tax rate from the current 32% to 22% to allow businesses to expand and create much-needed jobs.“Businesses cannot create jobs unless this government's tax regime is reduced. The current tax rate of 32% is simply too high,” he said. As part of his strategy, Itula also introduced the idea of a dividend tax. “If companies reinvest their profits, they won’t be taxed further. However, if they choose to distribute those profits as dividends, a 10% tax will apply,” he explained. According to him, this approach balances the need for tax revenue with incentives for companies to invest in themselves and expand their operations, thereby fostering job creation.SME reformsBeyond tax cuts, Itula proposed reforms targeting small and medium-sized enterprises (SMEs). He highlighted that these businesses often collapse due to early taxation when they are still fragile. “We must allow businesses to grow strong before taxing them. They need time to reinvest and become sustainable before they can contribute to the tax base,” he said. Looking ahead, the IPC leader’s vision also extends to reducing Namibia's reliance on imported goods, particularly food from South Africa. “We [plan to invest] in agriculture to ensure food sovereignty and reduce our 80% dependency on imports.”precious@erongo.com.na

Itula proposes corporate tax cuts, fewer ministries

Comments

Namibian Sun 2025-07-07

Please login to leave a comment

Itula proposes corporate tax cuts, fewer ministries

Comments

Namibian Sun 2025-07-07

Please login to leave a comment

Login