The Namibia Revenue Agency (NamRA) has announced it will process and disburse over N$200 million of tax refunds to eligible taxpayers by the end of November 2024.
NamRA’s Manager of Strategic Communications and Stakeholder Engagements, Tonateni Shidhudhu said the refunds will cover tax credits ranging from N$101 to N$100,000.
“The estimated tax refunds to be issued exceed N$200 million. This initiative aligns with Section 94 of the Income Tax Act, 1981 (Act No. 24 of 1981) and reflects NamRA’s commitment to clearing the longstanding backlog, ensuring that taxpayers who meet their obligations are promptly refunded,” he said.
This follows NamRA’s recent rounds of payouts on October 23 and November 1, when N$75.1 million was refunded to 50,804 individual taxpayers, covering amounts ranging from N$100 to N$3,000 across various tax types.
However, NamRA has encountered delays with refunds totaling N$60,911,304.61 for 31,162 taxpayers, currently on hold due to incomplete tax returns or missing banking information.
“We urge all taxpayers to update their tax records and banking information to avoid missing out on their entitled refunds,” Shidhudhu added.
According to NamRA’s latest data, the revenue body has collected N$45.1 billion in net tax revenue from 1 April 2024 to 30 September 2024.
The collections represent an increase of N$7.1 billion compared to the same period last year, where N$38 billion had been collected by September 2023.
