tax update 15 october 2014 safari court hotel presented by: sam shivute commissioner : inland...
TRANSCRIPT
TAX UPDATE
15 OCTOBER 2014SAFARI COURT HOTEL
Presented by: Sam SHIVUTECOMMISSIONER : INLAND REVENUE
MINISTRY OF FINANCE Inland Revenue
ITAS UPDATE
BPR UPDATE
The current of N$200 000 is set in respect of annual taxable turnover, and a person whose annual taxable supplies exceed such limit is automatically a registered person whether he registers or not. The VAT threshold is N$200 000 in any 12-month period.
Taxable supplies mean the value of zero rated supplies and standard rated supplies and do not include exempt supplies.
In a case where taxable supplies does not exceed N$200 000 per annum, the Commissioner may permit VOLUNTARY REGISTRATION
TRANSFER DUTY UPDATE
Total Number of objection received: 304 Total number dealt with: 131 Pending objection cases: 173
Received Completed Pending
Windhoek 161 33 128
Otjiwarongo 10 7 3
Oshakati 50 31 19
Walvisbay 82 59 23
Rundu 1 0 1
Keetmanshoop 1 1 0
Volume of old objections
Backlog
The Human Resource Capital
New guidelines developed
Forged good standing certificate
Press release in due time