The Business and Intellectual Property Authority (BIPA) has extended its Annual Duty Penalty Waiver amnesty for an additional three months, until 30 June 2024.
The program was launched in November 2023 and scheduled to conclude on 31 March 2024.
Last year, BIPA revealed that its records showed non-compliant businesses collectively accumulated a total of approximately N$275 million in penalties for the period from 2012 to 2022.
This amount, BIPA said, could potentially be waived if all non-compliant registered businesses opt to participate in the program.
“The waiver program garnered significant interest from businesses across various sectors. However, recognizing the challenges faced by many businesses in participating in the waiver program within the specified timeframe, BIPA has decided to extend the program to ensure inclusivity and accessibility for all eligible entities,” said BIPA CEO Vivienne Katjiuongua.
Katjiuongua urged all business owners to seize the opportunity from the outset and not postpone participation to ensure a smoother process and expedited service.
“During the initial phase of the program, BIPA noted a significant number of clients who waited until the final days, resulting in prolonged waiting periods. However, during this extension period, BIPA will embark on a regional outreach initiative, visiting various towns and regions to provide businesses with the opportunity to participate in the Annual Duty Penalty Waiver Program,” she said.
The BIPA CEO said the organization also plans to initiate an outreach program to reach underserved areas.
“The extension underscores BIPA’s commitment to supporting the business community and fostering a conducive environment for economic growth and innovation. By providing additional time and outreach efforts, BIPA seeks to empower businesses with the assistance needed to navigate regulatory obligations effectively,” Katjiuongua said.
The waiver program was approved by the BIPA Board of Directors and endorsed by Cabinet. Its primary objective of providing relief to business entities aligns with the government’s commitment to stimulate the local economy.
