Namibia - Other taxes and levies | KPMG | GLOBAL

Namibia - Other taxes and levies

Namibia - Other taxes and levies

Taxation of international assignees

1000

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Social Security Levies

There are social security taxes paid to the Commissioner of Social Security. The contribution rate for social security is 0.9% by the employer and 0.9% by the employee up to a maximum of NAD81 per month per employee.

Foreign Financial Assets

Is there a requirement to declare/report offshore assets (e.g., foreign financial accounts, securities) to the country’s fiscal or banking authorities?

As mentioned above, Namibia has a source-based income tax system whereby only income earned from a source within or a source deemed to be within Namibia will be subject to income tax.

In light of the above, only assets that have a bearing on the income earned from a Namibian source or deemedsource should be declared to the Namibian Inland Revenue Authority.

Appendix A

 

No of rooms* 1 2 3 4 5 6 7 8 8+
Location Monthly taxable benefit (NAD)
Windhoek 500 750 1000 1400 1800 2200 2800 3400 4000
Swakopmund/Walvisbay 350 550 750 1000 1300 1700 2100 2550 3000
Other municipal areas** 250 375 500 700 900 1100 1400 1700 2000
Other towns 125 175 250 350 450 50000 700 85050 1000

* By room is meant living rooms, such as bedroom, lounge, dining-room, study, etc. and does not include kitchen, scullery, pantry, bathroom, toilet, corridor, lobby, laundry, shower cubicle or bar. Any outbuilding which includes a flat must be divided into rooms.

** Other municipal areas include: Gobabis, Grootfontein, Keetmanshoop, Luderitz, Mariental, Okahandja, Ondangwa, Oshakati, Otjiwarongo, Rehoboth and Tsumeb. 

KPMG Advisory Services (Namibia) (Pty) Ltd
De Merindol Office Park
30 Schanzen Street
Windhoek
Namibia

Contact us

Memory Mbai

Senior Manager, Tax
T: +264 61 387 529
F: +264 61 387 501
E: mmbai@kpmg.com

Robert Grant

Director, Tax
T: +264 61 387 502
F: +264 61 387 501
E: robergrant@kpmg.com
kpmg.com/NA

Notice: Whilst reasonable steps have been taken to ensure the accuracy and integrity of information contained in this document, we accept no liability or responsibility whatsoever if any information is, for whatever reason, incorrect. We further accept no responsibility for any loss or damage that may arise from reliance on information contained in this document.

This document is based on our interpretation of the current income tax law and international tax principles. These principles are subject to change occasioned by future legislative amendments and court decisions. You are therefore cautioned to keep abreast of such developments and are most welcome to consult us for this purpose.

© 2018 KPMG Advisory Services (Namibia) (Pty) Ltd, a Namibian private company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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