The Namibia Revenue Agency (NamRA) and the Namibia Investment Promotion and Development Board (NIPDB) signed a Memorandum of Understanding (MoU), marking a significant milestone in their strategic partnership. This collaboration aims to enhance competitiveness and streamline the ease of doing business in Namibia.
The MoU focuses on simplifying income tax and VAT registration processes, improving the administration and enforcement of revenue laws, and fostering joint consultations on policy matters that impact investment. Both organisations are committed to enhancing their capacities, exchanging critical information and creating a conducive environment for business growth, all in line with international best practices.
CEO and Chairperson of NIPDB, Nangula Uaandja says the MOU will complement the work of both NIPDB and NamRA. “I believe that our two institutions play a complementary role supporting the government and the Namibian people. As we are promoters and marketers of Namibia, we are competing significantly internationally. So because of that competition, we need to make sure that our service providers, our regulators and so forth, are providing services in a manner that is friendly to do business in Namibia,” she said.
Sam Shivute, Commissioner of NamRA says in order to strengthen domestic resource mobilisation, you would need to grow your tax base and this can only be done if the economy is diversified. “The signing of this memorandum of understanding is a commitment for us to improve service delivery. This is both to our taxpayers, to our investors and to everyone who wants to do business with Namibia.”
By working together, NIPDB and NamRA are not only facilitating investment but also paving the way for a more efficient and investor-friendly regulatory framework.