By: Justicia Shipena
The Government Institutions Pension Fund (GIPF) says approximately 946 beneficiaries with outstanding tax obligations to the Namibia Revenue Agency (NamRA) will not receive refunds unless the revenue agency provides updated tax directives.
This follows an announcement that GIPF will disburse over N$118 million in tax refunds to 24,173 qualifying beneficiaries on 28 November 2024.
The payouts range from amounts under N$1.00 to approximately N$17,000, providing much-needed financial relief to pensioners, spousal, and child beneficiaries.
GIPF Chief Executive Officer, Martin Inkumbi, explained that the refunds are based on a formula comparing taxes paid to date with the amounts that would have been owed under the new tax tables.
Comments