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Repeal of Tax Incentives

Repeal of Tax Incentives

On 19 February, the Monetary Policy Committee (MPC) of the Bank of Namibia held its bi-monthly meeting and decided to cut the Repo rate with 25 basis points to 6.25 percent. The decision was made to support domestic economic activity and to maintain the one-to-one link between the Namibian Dollar and the South African Rand.

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Repo rate reduced to 6.25 percent

Repo rate reduced to 6.25 percent

On 19 February, the Monetary Policy Committee (MPC) of the Bank of Namibia held its bi-monthly meeting and decided to cut the Repo rate with 25 basis points to 6.25 percent. The decision was made to support domestic economic activity and to maintain the one-to-one link between the Namibian Dollar and the South African Rand.

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Legislative Amendment to Regulations Relating to BIPA Fees

Legislative Amendment to Regulations Relating to BIPA Fees

The Minister of Industrialisation, Trade and SME Development, Hon. Tjekero Tweya, recently approved amendments to the Close Corporations Act of 1988 and the Companies Act of 2004. The amendments are confirmed in Government Gazette number 7032 which states the new regulations will be implemented from 1 November 2019. According to an official press release issued by the Business and Intellectual Property Authority (BIPA) on 12 November 2019, the effective date has been postponed to 1 January 2020.

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