The Namibia Revenue Agency (NamRA) has recorded a 15% increase in net revenue for the 2024/25 financial year, collecting N$88.6 billion, up from N$77 billion in the previous year.
NamRA Commissioner Sam Shivute announced the figures, stating the agency had exceeded its annual target of N$85.3 billion by achieving 103.81% of the projected amount. The figures cover the period from 1 April 2024 to 31 March 2025.
“The gross revenue collected amounted to N$98.9 billion, with N$10.4 billion disbursed in refunds, resulting in a net collection of N$88.6 billion,” said Shivute.
International trade taxes contributed the largest share of revenue, amounting to N$30.18 billion or 34% of the total. Value-Added Tax (VAT) and Pay-As-You-Earn (PIT) each made up 23%, contributing N$20.56 billion and N$20.07 billion respectively. Corporate Income Tax (CIT) accounted for 14% at N$12.63 billion, while other revenue streams brought in 6% or N$5.1 billion.
The revenue increase comes on the back of broader economic growth, with Namibia’s gross domestic product (GDP) expanding by 34% — from N$184 billion in 2021 to N$245 billion in 2024.
Speaking at NamRA’s Taxpayers Appreciation Day, Minister of Finance and Public Enterprises, Ericah Shafudah, hailed the performance as a national achievement.
“This achievement is not just a milestone for NamRA, it is an accomplishment for every compliant taxpayer and trader who remains committed to the development of the country,†said Shafudah.
She emphasised the importance of tax contributions in enabling government to fund essential services, invest in infrastructure, and address socio-economic challenges.
“Our country continues to face social and economic challenges, exacerbated by global economic conditions and climate change. The only way to overcome these challenges is through effective resource mobilisation, which requires strong partnerships between the public and private sectors,†she said.
Shafudah called on all taxpayers and business operators to remain committed to compliance, underlining its role in driving development and meeting national obligations.
African Tax Administration Forum (ATAF) Executive Secretary Logan Wort commended Namibia’s strong tax performance, noting that the country’s tax-to-GDP ratio stands at 25.1%, the highest on the continent, compared to an African average of 15%.
“Although this figure is still below the OECD average of 34%, NamRA, as one of the newest tax administrations, demonstrates clear potential,†said Wort. “ATAF will, therefore, continue to work closely with NamRA to ensure this growth is sustained.â€
