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NamRa rakes in N$52.9bn in revenue, surpasses collection targets

May 03, 2022

The Namibia Revenue Agency (NamRA) collected over N$60.5 billion in the last financial year ended 31 March 2022, surpassing its collection target of N$49.4 billion for the period.

Of the amount collected during the period under review, N$7.6 billion was paid in refunds, leaving the revenue agency with N$52.9 billion.

“If you are asking me that you have not done anything much, nor opened new centre but have achieved such numbers, I would say Its definitely the coming in of NamRa, also the motivation that as an organization we are providing to our staff members,” NamRA’s Chief: Strategic Communications and Support Engagements, Steven Yarukeekuro Ndorokaze told the The Brief .

On whether the agency had completed the transfer of staff from the Ministry of Finance to the agency, Ndorokaze said the process was still on-going, but had not impacted NamRa’s ability to meet its set targets for the period under review.

“Of course, they are not settled as we still need to transfer them from the Ministry of Finance, where they currently are to NamRA. But that also is an opportunity which will enable people to work a bit harder, they would have otherwise previously done,” he said.

According to results of its electronic tax relief programme, which ended on 31 January 2022, the revenue authority waived a total amount of over N$11 million in penalties, with 47 493 taxpayers having participated in the programme which collected N$1 320 528 999 which was paid into the state account.

The amount, according to NamRa, represents 7% of the opening tax debt for fiscal year 2021/2022.

In October last year NamRA revealed that it was N$12 billion in taxes by individuals and corporates, an additional N$36 billion in penalties, with N$8 billion being debt interest accrued.

According to data shared by the revenue collection agency, 107 200 taxpayers owe N$12 billion in taxes, 117 600 owing N$36 billion in penalties and 137 000 having accrued interest to the tune of N$8 billion.

Of the 887 500 registered taxpayers, only 57% were tax compliant, with 381 654 tax payers being non-compliant.

The Namibia Revenue Agency was established in 2017 to, amongst other functions: Assess and collect taxes and duties on behalf of the States, receive and record all State revenue on behalf of the State, improve service delivery to taxpayers and promote compliance with the revenue laws and advise the Minister of Finance on matters relating to tax administration.

The revenue body is part of government efforts to increase revenue collection efficiency in the country.

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Last modified on Friday, 06 May 2022 18:47

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