OrbitaxNamibia 2024/25 Budget Includes Increased Tax Exemption Threshold for Individual, Tax Rate Cut for Non-Mining Companies, and Other Changes
|Proposed Changes|Namibia
Namibia's Minister of Finance and Public Enterprises, Iipumbu Shiimi, delivered the 2024/25 Budget on 28 February 2024. The main tax measures announced in the budget statement include:
- An increase in the individual income tax threshold from NAD 50,000 to NAD 100,000 from 1 March 2024, along with adjustments in the tax brackets as follows:
- up to NAD 100,000 - 0%
- NAD 100,001 to 150,000 - 18%
- NA…
