Digital and point-of-sale tax management methods introduced by NamRA for easier tax compliance
Namibia Introduces Simplified Tax Payment Options
Taxpayers in Namibia now have more convenient ways to make their domestic tax payments, thanks to the Namibia Revenue Agency (NamRA). The new payment options aim to improve taxpayer compliance and efficiency.
NamRA has introduced Electronic Fund Transfers (EFT), direct deposits, and cash or Point-of-Sale (POS) transactions as payment methods. These methods can be used for various tax types, including income tax, VAT, royalties, and environmental levies.
For EFT payments, taxpayers are required to use a specific reference format. The format includes the registration office code, the taxpayer’s Tax Identification Number (TIN), and the tax type. This strict reference format ensures payments are correctly identified and credited by NamRA.
Payments can be made in either Namibian Dollars or South African Rand, and using POS terminals or other digital payment methods has been promoted by NamRA to improve convenience. While specific step-by-step instructions for direct deposits or cash/POS payments are not detailed, taxpayers are encouraged to use the taxpayer’s unique reference details provided by NamRA for accurate processing.
NamRA has designated specific bank accounts at the Bank of Namibia for different tax categories. There is a revenue account for any payments except VAT, and a separate VAT-dedicated account. Taxpayers are required to include their TIN and relevant tax period in payment references for accurate allocation.
To facilitate easy access, POS machines for tax payments are available at most NamRA revenue offices. Taxpayers are also encouraged to use the correct referencing format to avoid delays and penalties.
For assistance with tax payments, NamRA provides a dedicated contact line at 061 209 2400. The ITAS coding list, which includes corresponding registration office codes for proper tax processing, has been published by NamRA to ensure accurate tax processing.
In summary, taxpayers in Namibia can now make domestic tax payments using multiple methods, including EFT, direct deposits, and cash or POS transactions. The correct referencing format and payment flexibility help ensure efficient and accurate tax payment processing in Namibia.
Technology has been integrated into the tax payment process in Namibia, with Electronic Fund Transfers (EFT) and Point-of-Sale (POS) transactions being introduced by the Namibia Revenue Agency (NamRA). Finance plays a crucial role in this transition, as these new methods facilitate efficient and effective management of various tax types.
