Namibian Tax Brackets 2024. Here’s a breakdown of the current tax brackets and corresponding rates [1]: 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.
President nangolo mbumba has said that the idea that the basic income grant should be given to every namibian, including those who are employed, will only increase government expenditure; Here’s a breakdown of the current tax brackets and corresponding rates [1]:
To Enhance The Namibian Tax System’s Competitiveness And Attract Potential Investors And To Increase Development Within The Private Sector, The Government Intends To Implement The Following Changes, Some Of Which Are Effective From 1 January 2024.
The 2024/25 budget increases the threshold for the individual income tax from nad 50,000 to nad 100,000, effective 1 march 2024.
An Increase In The Individual Income Tax Threshold From Nad 50,000 To Nad 100,000 From 1 March 2024, Along With Adjustments In The Tax Brackets As Follows:
Here are the tax brackets for individuals in namibia (tax rate in namibia):
Namibian Tax Brackets 2024 Images References :
The Tax Threshold For Income Tax Liability On All Individual Taxpayers Will Be Increased From N$ 50 000.00 To N$ 100 00.00 Per Annum, Effective 1 March 2024.
The reduction of the corporate tax rate from 31% (effective 1 january 2024) to 28% by fy2026/27 is a notable move to align namibia’s tax rates with regional and global standards.
In This Respect, The Revised Tax Tables Will Be Published.
Easily and quickly calculate your income taxes in namibia with this free tax calculator.