Windhoek-Finance Minister Calle Schlettwein yesterday said government’s tax incentive scheme, which ended yesterday, was indeed time-bound.
During a media briefing at State House, Schlettwein said he will soon receive a report on how successful the tax amnesty scheme was. Only after he receives the report will a decision be taken on the next step of the scheme, including whether or not the amnesty will be extended.
The Namibia Institute of Professional Accountants (NIPA) recently requested an extension on the amnesty for all taxpayers.
“We believe it’s very difficult for taxpayers to participate in the incentive scheme, as to qualify, the exact capital amount and payment is required by the 31st July before they can apply for amnesty. Many taxpayers are unaware of the amount they owe, as they have not been assessed and assessment is a lengthy process,” stated Essie Herbst, CEO of NIPA, last week.
About two weeks ago, government bemoaned the fact that taxpayers had not taken full advantage of the tax incentive programme, warning that the deadline for settling outstanding amounts without interest and penalties will not be extended beyond July 31.
Ministry of Finance (MoF) Commissioner for Inland Revenue Justice Mwafongwe recently said taxpayers had enough time to take advantage of the opportunity to cut 80 percent of interest and waive penalties on outstanding amounts.
MoF control taxation officer Tanya Bock echoed that view and warned that there would be no extension to the due date, as taxpayers have had enough time to settle their accounts.
Minister Schlettwein in January issued a media statement in which the introduction of the incentive and amnesty programme was announced.