The Namibia Revenue Agency (NamRA) and the Business and Intellectual Property Agency (BIPA) are looking into streamlining business registration and tax payment systems to enhance efficiency and convenience for businesses.
According to NamRA Commissioner Sam Shivute, in future, the entities would likely have an integrated system that would allow individuals to seamlessly register businesses and simultaneously also access tax-paying services.
“What we indicated, is that it’s a long-term goal where you would want our system, that’s ITAS system, including even our ASYCUDA system to be integrated with the BIPA system and therefore when that information is entered at BIPA, then we can then have access to that,†he said.
This comes as the two entities signed a memorandum of understanding (MoU) to amongst other things enhance the information sharing process between them.
BIPA CEO Vivienne Katjiuongua said one of the primary objectives outlined in the MoU is the establishment of a comprehensive cooperation framework aimed at optimising service delivery.
The framework encompasses various initiatives, including information exchange on beneficial ownership, development of streamlined approval processes for financial entities, and collaborative efforts to raise awareness on regulatory compliance and intellectual property rights.
“There are also areas where we want to cooperate in raising awareness, having, information sharing sessions together, so that we bring the issues together and it’s both on intellectual property as well as business administration or prudent business as well as running your business affairs in a way of having regard to the legislation,†she said.
Highlighting another key benefit, she explained how the MoU streamlines financial reporting, a critical aspect for both organisations.
She said this allows them to efficiently compare and analyse financial statements received from entities, ensuring they accurately reflect yearly activities. Without this ability, individuals could exploit gaps in the system to evade taxes, underreport income, or operate under the radar, avoiding registration and compliance obligations.
“Therefore, I firmly believe that fostering administrative cooperation in this regard is highly advantageous for the country as a whole,†she said.
