WINDHOEK, April 8 (Xinhua) -- Namibia exceeded its national tax revenue target for the 2024/2025 financial year, collecting 88.6 billion Namibian dollars (about 4.6 billion U.S. dollars), Minister of Finance and Social Grants Management Erica Shafudah has said.

Speaking at the Namibia Revenue Agency's (NamRA) 4th annual Taxpayer and Trader Appreciation Day held in Windhoek on Monday evening, Shafudah said the revenue collection surpassed the initial target of 85.3 billion Namibian dollars, reaching 103.81 percent of the goal.

"This is not merely a success for NamRA, but a reflection of the dedication and compliance of our taxpayers and traders," Shafudah said, describing the milestone as a joint accomplishment between the public and private sectors.

The event recognized businesses and individuals who have maintained full tax compliance, including registration, filing, declarations, and payments.

NamRA, established in April 2021, has played a key role in mobilizing domestic revenue to support government spending on infrastructure, public services, and poverty alleviation, Shafudah said, emphasizing the importance of continued compliance in helping the country address socioeconomic challenges exacerbated by global economic conditions and climate change.

She also highlighted progress on reforms aimed at improving Namibia's tax system, adding that a dedicated tax court is expected to be established this year, with relevant legislation to be tabled in parliament. Enditem

Related

Go to Forum >>0 Comment(s)