The Namibia Revenue Agency (NamRA) has announced the planned implementation of revised Good Standing Certificates issuance guidelines effective on 1 June 2024. This is what to know about the transitional immediate measures applicable to taxpayers to get Certificates of Good Standing until June 2024:
- At the date of application of the first Certificate of Good Standing, a taxpayer is required to pay an amount equal to 10% of the outstanding capital balance.
- The payment plan shall be registered on the Integrated Tax Administration System and instalments shall be spread across a period of twelve consecutive months.
- When requesting an additional Certificate of Good Standing, a taxpayer needs to demonstrate that they have honoured the instalments either through consecutive monthly payments or by paying an amount larger than the agreed monthly instalment.
- A taxpayer who secures a procurement contract shall be required to settle all outstanding capital amounts promptly.
- Any taxpayer who fails to honour the payment arrangement, as duly recorded on ITAS, shall only be given a Certificate of Good Standing upon payment of an amount equal to 20% of the capital balance.
- The transitional arrangements shall be implemented with immediate effect and no discretion shall be allowed in the issuance of Certificate of Good Standing.
