Hertta-Maria Amutenja
The Minister of Industrialisation and Trade, Lucia Iipumbu, announced the launch of the Annual Duty Penalty Waiver Programme by the Business and Intellectual Property Authority (BIPA).
She said the programme is in line with the Business and Intellectual Property Authority Act, Act No. 8 of 2016, which aims to provide relief to Namibian businesses burdened by penalties accrued due to non-payment of annual duties from 2012 to 2022.
“The relief comes at an opportune time if one considers the economic hardships that our entrepreneurs have and continue to endure due to the global economic downturn which was further exacerbated by the outbreak of the COVID-19 Pandemic,” said Iipumbu.
She said according to records from BIPA, non-compliant businesses have accumulated approximately N$275 million in penalties over the specified period.
Iipumbu said the waiver, is effective from 15 November 2023 until 31 March 2024, offering businesses an opportunity to settle their outstanding duties and penalties, thereby starting afresh and ensuring future compliance.
Moreover, the minister emphasised that the waiver period covers the years 2012 to 2022 and urged entrepreneurs across all 14 regions to take advantage of the opportunity.
“We are cognizant of the fact that BIPA does not have offices in all the 14 Regions, therefore, entrepreneurs are encouraged to request information through the Ministry of Industrialisation and Trade Regional Offices,” she said
BIPA’s Chie Executive Officer, Vivienne Katjiuongua, announced the program last month, underscoring its objective to alleviate financial burdens on businesses by waiving penalties and additional fees incurred due to non-payment of annual duties.
Katjiuongua emphasised the importance of businesses fulfilling specific conditions, including applying for the program and settling outstanding capital amounts for each year of non-compliance.
In addition, Katjiuongua also noted that through the penalty waiver program, BIPA aims to encourage the restoration of competitive Namibian businesses, fostering a culture of innovation, economic resilience and compliance.
