Niël Terblanché
The Namibia Revenue Agency (NamRA) and the Namibia Investment Promotion and Development Board (NIPDB) signed a new Memorandum of Understanding (MoU) in an effort to improve Namibia’s investment climate and tax compliance.
This collaboration is set to enhance the efficiency of income tax and VAT registration processes while streamlining the investment process for foreign investors.
The MoU signed on Wednesday, reflects both institutions’ commitment to strengthening tax compliance and promoting foreign investment, with a clear focus on fostering economic growth in Namibia.
NamRA Commissioner Sam Shivute stressed the importance of facilitating a conducive environment for investors.
“We want to strengthen domestic resource mobilisation, and we can only do that when investors are given the best service and provided with accurate information related to tax compliance,” he said.
As part of the agreement, NamRA will station a senior official at NIPDB’s One Stop Shop, which consolidates government services for investors.
Shivute indicated that this official will serve as a liaison officer, assisting investors in navigating the tax system and ensuring they are compliant with the country’s tax regulations.
“The initiative is expected to boost investor confidence and contribute to job creation, thus supporting Namibia’s economic development,” he added.
The NIPDB’s chief executive officer, Nangula Uaandja, pointed to the complementary roles of both institutions in achieving the Namibian government’s broader economic growth objectives.
“We need to support NamRA to ensure that investors are compliant. Much can be achieved through the signing of this MoU, and it reflects our shared goal of bolstering investor confidence in Namibia,” she said.
According to Uaandja, the MoU also aims to improve the administration and enforcement of revenue laws, foster joint consultations on policy matters that affect investment, and close the gap between government entities working in isolation.
“It prioritises enhancing capacity, exchanging information, and adopting international best practices in revenue and investment management,” she added.
Uaandja said that with the implementation of this agreement, Namibia will advance its investment framework, which is vital for ensuring sustainable economic growth.
She added that the collaboration between NamRA and NIPDB will create a more transparent, efficient, and investor-friendly environment in the country.
