DOING BUSINESS IN NAMIBIA

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Carina Oberholzer is a Senior Tax Consultant in the Corporate Tax Division at Pricewaterhouse-Coopers. She has experience in various tax, accounting and auditing fields and industries. The Year of Compliance – Individuals and Trusts Part 2 of 3 Any person or trust who receives income from a Namibian source should be registered as a Taxpayer at the Receiver of Revenue. It is the responsibility of the taxpayer, and not his/her employer, to register for income tax. The return to be completed is based on the type of income received by the taxpayer, as well as the legal form of the entity. The return to be submitted by each category of taxpayers is as follows: – Individuals who carry on business or farming activities: 6-0/0014A – Yellow return (Due date: 30 September); – Individuals: Salaried persons/pensioner: 6-0/0014B – Blue return (Due date: 30 June); – Salaries individuals who only earn a basic salary with no allowances – 6-0/0014C – Brown return (Due date: 30 June); – Trusts – 6-0/0014A – Yellow return (Due date: 30 September). In cases where a taxpayer has not received a tax return, the relevant forms should be collected from their nearest Receiver of Revenue office. When it becomes clear that a taxpayer will be unable to submit the return before the due date, the taxpayer may apply, in writing, for a period of extension to submit the tax return. Trusts and individuals who earn income other than salaries or pension are required to pay provisional tax. The first provisional payment should be submitted 6 months before year end, the second payment on year end and the top-up payment no later than 7 months after the year end. Salaried individuals or pensioners should make their top-up payments no later than 30 June. If one looks at 2005 in retrospect and the tax practices that ended on the front pages of various newspapers, then one needs to concur that 2006 needs to focus on compliance. ÃÆ’Æ‘ÀÃ…ÃÆ”šÃ‚© 2006 Pricewaterhou-seCoopers Inc. All rights reserved. Pricewaterhou-seCoopers refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.