Hertta-Maria Amutenja
During the first quarter of the current financial year, the Namibia Revenue Agency (NamRA) collected N$18.9 billion in revenue.
According to Namra Commissioner Sam Shivute, this amounts to 28 percent of the N$67 billion annual target set for the financial year beginning on 1 April 2023 and ending on 31 March 2024.
Last year the agency surpassed its revenue-collection target for the 2022/23 financial year by N$4 billion. The revenue collector was required to bring in N$53 billion however it exceeded its target and collected a total of N$57 billion.
“Our achievements thus far would not have been possible without the unwavering support and compliance of our clients and stakeholders. We are truly indebted to you for exercising a sense of responsibility and adherence to our revenue laws. This culture of compliance is one that we strive to foster and encourage for the benefit of our country,” said Shivute.
He also stressed the significance of cooperating with customers and other stakeholders in order to increase revenue for Namibia’s development.
Shivute also urged all companies to avoid submitting zero returns when they have made profits and to maintain transparency in their dealings.
He claimed that by doing this, NamRA will be able to continue assisting the government in providing essential services.
“Some are submitting zero returns when they file their tax returns and there are some traders who intentionally under-declare the value of their imports. It is important for our clients to submit their returns on time, declare accurately and pay their share fair of tax to the State. Those who are under-declaring must also refrain from such activities and ensure compliance with revenue laws. We are stepping up our investigation, detection and enforcement capabilities to ensure total compliance with revenue laws,” he said.
Moreover, the commissioner highlighted the signing of the Mutual Recognition Arrangement (MRA) with other Commissioners General from all Southern African Customs Union (SACU) member states earlier last month
The MRA is establishing a mechanism for recognizing AEO-accredited traders and granting them the same status across all SACU member states.
Accredited traders in Botswana, Eswatini, Lesotho, Namibia, and South Africa are expected to benefit from lower trade costs and quicker turn-around times for imports and exports due to the MRA
“The AEO Programme represents the future of doing business in Namibia, and NamRA takes pride in implementing this initiative alongside sister revenue administrators in the region. Its objective is to facilitate the cross-border movement of accredited operators, enhance compliance and efficiency, and reduce the cost of conducting business. Accredited companies will benefit from expedited clearance of goods at borders and other advantages, which will be explained in detail in the upcoming communications,” Shivute said.
