NCCI urges members to take advantage of tax incentive scheme

03 Mar 2017 07:20am
WINDHOEK, 03 MAR (NAMPA) – The Namibian Chamber of Commerce and Industry has urged its members to take advantage of the government’s intention to write off penalties and waive 80 per cent of interest in respect of outstanding taxes.
In a statement issued here on Thursday, NCCI Chief Executive Officer Tarah Shaanika called on all business owners to approach the Office of the Receiver in their respective regions to make payment arrangement before the amnesty period ends.
The amnesty period started in February and ends in July 2017.
“This is a unique opportunity for taxpayers to clear their account and start a new page in their relationships with the Receiver,” he said.
Shaanika said paying tax in full and on time is an obligation which all citizens, including corporate citizens, must carry out without fail.
He explained that the tax incentive scheme will give taxpayers who owe the government some sort of amnesty and allow them to pay the capital amount owed plus 20 per cent, after which the rest of the interests and penalties will be written off.
Shaanika said the scheme will provide relief for taxpayers who are struggling to pay their debts and it will also enable government to collect the money owed to it by taxpayers and improve its liquidity.
Thus, he called for close cooperation between the government and private sector in order to revitalise Namibia’s economy.
Shaanika said the Chamber will remain engaged in dialogue with Government to provide a platform for positive private sector input into policy and legislative developments.
The CEO called on the government to put a complete stop to inflated tender prices, public resources wastage and corrupt practices.
“The commitment to align public spending in the productive sectors of the economy will provide the necessary space for our economy to bounce back into a healthier state and to realise growth that can truly propel us to Vision 2030,” he said.
Shaanika said there is a need to facilitate investment in energy generation, water sources development, agricultural production and industrialisation.