Namibia, Republic of

2023/24 Annual Budget Speech

During the 2023/2024 Annual Budget Speech, the Minister of Finance communicated that there will be tax relief for individuals in the 50,000 to 100,000 Namibian dollars (NAD) tax bracket. This will mean that individuals earning less than NAD 100,000 per annum would not be subject to tax. This will be effective in fiscal year (FY) 2024/25. 

The Minister also confirmed that the tax amnesty programme will be extended for the final time, where all interest and penalties will be written off if the outstanding capital is fully settled by 30 October 2024.