Namibia Parliament Considers Bill to Amend Income Tax Law

The Namibian Parliament Nov. 2 considered a bill to amend the income tax law. The bill includes measures to: 1) include additional reasons under which amounts are deemed to have accrued from a source within Namibia; 2) clarify the deduction of contributions made to company-owned policies; 3) increase the tax deductibility of the retirement fund and education policy contributions; 4) provide for the furnishing or serving of a tax return or notice of assessment in electronic format; 5) amend the rules related to the allocation of tax payments; and 6) provide for thin capitalization rules. [Namibia, Parliament, 11/02/22]

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