Namibia Gazettes Law Amending Income Tax Act

The Namibian Official Gazette Dec. 29, 2022, published Law No. 13, amending the income tax act. The law includes measures: 1) introducing additional circumstances under which amounts are deemed to have accrued from a source within Namibia; 2) clarifying the deduction of contributions made to company-owned policies; 3) increasing the tax deductibility of retirement fund and education policy contributions; 4) providing for the furnishing or serving of a tax return or notice of assessment in electronic format; 5) amending the rules relating to the allocation of tax payments; and 6) providing for thin capitalization rules. The law enters into force ...