SWAKOPMUND: The Namibia Revenue Agency (NamRA) has so far paid over N.dollars 100 million to more than 46 000 individual taxpayers since the commencement of the mass tax refund exercise in December.
The refund which spans from 1991 to 2023, according to NamRA is to benefit over 63 000 taxpayers, with the lowest refund amount being N.dollars 100 while the highest is N.dollars 101 959.
In a press release issued on Wednesday, NamRA Chief of Strategic Communications and Support Engagements, Yarukeekuro Ndorokaze, highlighted the positive strides made and the impact on taxpayers by NamRA.
He noted that out of the 78 441 tax returns processed, 46 941 refunds were successfully paid to 46 772 individual salaried parsons and pensioners.
‘The cumulative value of these successful refunds was N.dollars 100.9 million, a significant financial relief provided to eligible taxpayers. While the majority of refunds were successfully processed, unfortunately 31 500 refunds, totalling N.dollars 56.9 million, were rejected for
various reasons,’ Ndorokaze said.
He explained that the rejection criteria encompassed outstanding returns, unpaid liabilities and no bank account numbers, amongst other factors.
The revenue agency has therefore urged taxpayers to proactively address the identified shortcomings to avoid refund rejections going forward, and ensure the swift release of their refunds.
The Minister of Finance and Public Enterprises, Iipumbu Shiimi during the tabling of the 2024/25 budget last week also announced a N.dollars 1.4 billion Government settlement in once-off legacy tax liabilities for selected public enterprises whose funding was severely reduced due to fiscal consolidation in previous years.
The enterprises include the University of Namibia (UNAM), TransNamib, the Namibian Broadcasting Corporation (NBC), New Era Corporation, the National Fishing Corporation of Namibia (FishCor) and the Roads Contractor Company (RCC).
Shiimi said this is an exceptional once-off exercise to clear the legacy debt of public enterpris
es accumulated prior to the establishment of NamRA.
Source: The Namibia Press Agency