By: Nghiinomenwa-vali Erastus
The Ministry of Finance says it has intensified its efforts to review Namibia’s tax regime with the aim of enhancing the country’s tax competitiveness.
In this regard, the Ministry earlier this year established a Tax Policy Unit within the Department of Economic Policy to spearhead the review processes.
The Unit will conduct a thorough review of the country’s tax regime, identifying gaps, benchmarking against other nations, and aligning with international best practices.
As a result of this review, the unit has developed a catalogue of potential areas for tax reforms to be implemented over the medium term. Stakeholder engagements on these proposed tax changes are scheduled in the coming months before public pronouncements are made.
During his 2023 Mid-Budget review statement, Finance Minister Iipumbu Shiimi, emphasised the government’s commitment to improving tax competitiveness regionally and utilising the tax system to foster economic growth.
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