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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.
Legislative Amendment to Regulations Relating to BIPA Fees
The official notice confirming the postponement was issued following extensive discussions between BIPA, the Institute of Chartered Accountants of Namibia (ICAN) and the Namibian Institute of Professional Accountants (NIPA). In the opinion of ICAN’s Secretariat, the date change will partially help to alleviate the business impact of the notice period. Any concerns or further queries regarding the revision of fees can be addressed to the Chairman of BIPA, Mr. R Kaakunga (kaakunga@bipa.na).
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