Namibia

Namibia

Reduces corporate income tax for non-mining companies

22 Feb 2023

On 22 February 2023, the Minister of Finance and Public Enterprises presented the 2023/24 Budget to Parliament, where he confirmed that the non-mining company tax rate would be reduced by two percentage points over the next two year. Accordingly, the tax rate will be reduced to 31 percent, from 32 per cent, effective on 01 April 2024, with a further reduction to 30 per cent on 01 April 2025.

Nature of measure:
  • Incentives
Type:
  • Treatment and operation (Other)
Industry:
  • Not industry specific
Inward FDI:
No
Outward FDI:
No
Sources: