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Treasury Considers Tax Lures for Green, Digital Businesses

Local companies in the green technology and digital space have caught the eye of the taxman, and could in the future be granted favourable capital allowances for tax purposes, says Oscar Capelao, the minister of finance an public enterprises’ tax adviser.

He said this on Wednesday at the Namibia Revenue Agency (Namra) awards held in the capital.

Capelao said the Ministry of Finance and Public Enterprises is considering favourable allowances to foster investment in green technology and digital transition.

The former banker said the ministry and the tax policy are considering a possible tax-relief scheme to encourage employment.

The awards recognise taxpayers’ and customs traders’ contributions to the state’s revenue collection.

“Taxpayers and traders play a major role in the development of our country. They are the engine of growth for socio-economic development and should therefore be appreciated,” the agency’s board chairperson, Anna Nakale-Kawana, said.

She said government systems and processes function smoothly thanks to taxpayers and traders.

“It is because of their patriotism and discipline to build Namibia through the taxes they pay to Namra,” she said.

For the last fiscal year, Namra collected over N$57 billion – about N$5 billion more than the preceding year’s collection.

Of those awarded, De Beers Marine Namibia Pty Ltd was the greatest winner, walking away with four awards, as well as the accolade of highest revenue contributor.

Beverages maker and distributor Anheuser Busch Inbev Namibia Breweries (Pty) Ltd was the highest contributor overall in the customs and excise category.

Notable entities, such as Shell Namibia Upstream B.v, Swakop Uranium (Pty) Ltd, Old Mutual Life Assurance Company (Namibia) Ltd, MultiChoice Namibia (Pty) Ltd, and Catholic Health Services were also recognised as among the highest contributors to the state’s purse in several regional categories.

Phillippus Opperman, Wilma Badenhorst, Michael Oosthuizen, Xiomara Perez-Llanes, Jacobus Strauss, Mark Aitcheson-Adcock, Karin Fudge and Susan Bienati were recognised in the individual taxpayers’ category.

Aletta Noechel was recognised as the highest senior citizen contributor.

Other companies, such Oshana Hardware (Pty) Ltd, Retailability (Pty) Ltd, Beifang Mining Technology Services (Namibia) (Pty) Ltd, and Mont Vinum Properties (Pty) Ltd were also recognised as among the highest domestic tax contributors in their regions.

Nawa Investments CC, Schenker Namibia (Pty) Ltd, WP Transport (Pty) Ltd, XYZ Investment CC, Logistics Support Services CC, Express Services (Pty) Ltd, Trinity Clearing Services CC, and Seawork Fish Processors (Pty) Ltd were recognised for outstanding work on the customs and excise front.

Capelao said the globalisation of economies means the country cannot always run in one direction against others – especially in the regions.

“We remain committed to broadening the taxbase, which should lead to a lower tax burden per person.
Our policy remains underpinned by competitiveness and economic growth,” he said.

The agency’s commissioner, Sam Shivute, said while they are celebrating compliant taxpayers, those who are not compliant should note that their days are numbered.

Namra is expected to collect over N$67 billion for the 2023/24 fiscal year, including Southern African Customs Union receipts.

Source : TheNamibian