Employers urged to reimburse backdated tax

The ministry of finance has announced employers will have to reimburse employees as soon as the new statutory tax rates are gazetted, it said in a press statement this morning.Any over-deduction of Pay As You Earn (PAYE) arising as a result of the implementation of adjusted statutory tax rates must be reimbursed by the employer to the employees soon after the new statutory tax rates are gazetted. The employer will deduct the reimbursed PAYE from the monthly employee’s tax amount to be paid to the Namibia Revenue Agency (NamRA).The ministry explained that the objective of the adjustment is to ensure that the total amount of employee’s tax deducted in respect of employees for the 2024/25 year of assessment be equal to the mount of employees’ tax as per paragraph 12A of Schedule 2 to the Income Tax Act, 1981 (Act No. 24 of 1981)."In the exceptional cases where employers do not have sufficient employees’ tax payable from which amount they can deduct and refund those employees now falling in the revised tax-exempt threshold of N$100 000 annual remuneration, the employee will have to claim a refund when submitting their 2025 return of income on or before 30 June 2025," the ministry said."Furthermore, employees who have changed employment during the tax year and are no longer with their previous employers will have to claim a refund when submitting their 2025 return of income on or before 30 June 2025," the ministry explained.

Employers urged to reimburse backdated tax

Kommentaar

Republikein 2026-03-20

Meld asseblief aan om kommentaar te lewer

Employers urged to reimburse backdated tax

Kommentaar

Republikein 2026-03-20

Meld asseblief aan om kommentaar te lewer

Intekening vereis om toegang tot inhoud te kry. ×

MELD AAN

Advertensie

Intekening vereis om toegang tot inhoud te kry.