Month: April 2024

Deductions may be legally be used to reduce one’s taxable income which in turn means a lower tax bill.

The recent 2024/2025 budget speech by the Minister of Finance introduced changes to the income tax thresholds for individuals. These changes are set to take effect on 1 March 2024. Below, we discuss the concept of income tax and the changes introduced in the budget speech.

Taxes are a fundamental aspect of any nation’s financial structure, and Namibia is no exception. Understanding the Namibian tax system empowers you to fulfil your civic duty and manage your finances effectively.