Namibia wants to attract investors with corporate tax reduction

Martin Endjala Local economic analysts are of the view that the announced reduction in corporate tax rate by the Minister of Finance and Public Enterprises, Iipumbu Shiimi, during the tabling of the National Budget in the National Assembly on Wednesday, will make Namibia more attractive to investors. According to a Simonis Storm Securities report the reduction of the corporate tax rate from 31 percent, to 28 percent, is a noteworthy move that will align Namibia’s tax rates with regional and global standards. The reduction is expected to make Namibia a preferred investment destination that will attract both domestic and foreign…