INSIGHTS – NEWS
ITAS Incentive Programme – Tax Penalties To Be WaivedAccording to an official press release issued by the Ministry of Finance on 31 October 2019, all Namibian taxpayers can now benefit from an incentive program introduced to encourage registration and submissions on the Integrated Tax Administration System (ITAS). Said incentive offers the waiving of penalties charged on all tax accounts from March 2019 to June 2020.
ITAS Incentive Programme – Tax Penalties To Be Waived
In order to qualify to the incentive, taxpayers must register on the ITAS portal as an e-filer (register now) and update all outstanding tax returns by submitting it online. Once the pending submissions on all tax accounts are successfully assessed, the penalties charged on any of the tax accounts will be waived. The waiving of penalties is presumed to be an automated process and, according to the press release, taxpayers will not be expected to make any form of application for penalties to be waived. Taxpayers who already registered as e-filers will also benefit from above incentive as penalties for those without outstanding returns will automatically be waived, while those with outstanding returns must first complete electronic submissions in order to qualify for the penalty waiver.
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