NamRa rakes in over N$88 billion

The Namibia Revenue Agency (NamRA) has exceeded its revenue collection target for the 2024/2025 fiscal year (FY), collecting N$88.6 Billion by the end of March 2025. The figures represent a 103.81% of its projected target of N$85.3 billion, marking a 15% growth from the previous year's collection of N$77 billion. This was shared at the agency’s award ceremony held earlier this week. NamRa tax commissioner Sam Shivute said the agency was able to maximise revenue collection in line with its fiscal year target. “We would not have achieved our current level of revenue collection without efforts to minimize revenue leakage, and promoting voluntary collection,” Shivute said. Finance minister Ericah Shafudah stated that tax payers and traders' contributions enable the Government to fund essential services, invest in infrastructure, and address socio-economic challenges. “This is a collective achievement that should be celebrated. Our country continues to face social and economic challenges, exacerbated by global economic conditions and climate change,” Shafudah said. "The government would also be looking at measures to grow its income streams, The government remains committed to expanding the tax base and improving revenue mobilisation while ensuring that the needs of taxpayers are adequately addressed,” she elaborated. Turning her attention to the tax relief programme, Shafudah encouraged defaulting tax payers to take advantage of the initiative aimed at reducing their respective burdens with the tax collection agency. “I encourage eligible taxpayers to take advantage of this relief while it is still available and not to wait until the last minute. Please engage with NamRA to ensure that you benefit from this opportunity. This initiative is a demonstration of the government’s commitment to supporting businesses while enhancing compliance,” Shaudah said. The executive secretary of the African Tax Administration Forum (ATAF), Logan Wart acknowledged Namibia's role in the ATAF as the first country to ratify its membership with ATAF outside of the founding countries. “ This is a clear demonstration of Namibia’s belief in African solutions to African problems, but more importantly, in tax as a key to enable national development.”NamRa board chairperson, Anna Nakale, said tax compliance ensures that every citizen and entity contributes fairly to the collective prosperity of our nation. “Tax compliance ensures that every citizen and entity contribute fairly to the collective prosperity of our nation. Equally, customs compliance is key to safeguarding our borders, maintaining the integrity of trade, and ensuring efficient and secure movement of goods. "Compliance is not a favour to the government, it is a patriotic duty.” Nakale said.

NamRa rakes in over N$88 billion

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Republikein 2025-04-30

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NamRa rakes in over N$88 billion

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