Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
Forensic and investigation services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
Mergers and acquisitions
Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer- term strategic goals.
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
Indirect tax snapshot
Please click on each section to expand further:
Value-Added Tax (VAT) is the main type of indirect taxation in Namibia.
It is a tax on consumption which is applied during the production and distribution process to most goods and services. It is also applied to goods entering the country. VAT on imported services is only payable by the importer if he does not utilise the service in the making of taxable supplies. Although VAT is ultimately borne by the ‘end user’ by being included in the price paid, the responsibility for charging, collecting and paying the tax to the tax authority at each stage of the process rests with the registered person making the supply.
A registered person must charge VAT (output tax) on his taxable supplies and pay VAT (input tax) on his purchases (including any VAT paid on goods imported). The difference between the output tax and the deductible input tax in each tax period will be the amount of VAT payable by the business to the tax authority. Where the input tax exceeds the output tax, a refund can be claimed.
A transaction is within the scope of Namibian VAT if the following conditions are met:
- it is a supply of goods or services to any other person for consideration;
- it takes place in or partly in Namibia;
- it is made by a registered person;
- it is made in the course or furtherance of any taxable activity carried on by the person.
Businesses that make exempt supplies are unable to claim the input tax related to making the exempt supplies, so the VAT paid to suppliers will be an actual cost to the business.
Most goods imported into Namibia are subject to VAT. The tax must be paid by the importer at the time of importation or in the month following importation if the importer has been granted a VAT import account. Where the import is directly connected with the making of taxable supplies, the registered person is allowed a claim for the import VAT paid (subject to certain rules).
A 'person' who either makes or intends to make taxable supplies of goods or services must register for VAT if the value of his taxable supplies in Namibia exceeds or is expected to exceed an annual threshold of N$ 500 000. A business can register on a voluntary basis if it expects that its taxable supplies will exceed N$ 200 000 annually.
A 'person', as defined, includes any legal entity. Once a person is registered for VAT, all of his business activities will be covered by the registration - even if the nature of those activities are different. A registered person can make taxable as well as exempt supplies.
Each company in a group of companies must register separately for VAT in Namibia.
A penalty may be imposed by the tax authority if a business fails to register at the correct time.
All taxpayers need to appoint a public officer in Namibia, who must be a natural person resident in Namibia.
VAT returns normally cover a tax period of two months, ending on the last day of a calendar month, A businesses can request a specific accounting cycle to coincide with its financial or management reporting. A registered person who conducts farming activities only, may choose to be registered for a two, four, six or twelve month tax period.
All VAT returns must be submitted not later than the 25th of the month following the end of the tax period, together with any tax due.
A registered person who imported goods and who is in possession of a VAT import account, must submit a return together with the payment of the VAT by not later than the 20th of the month following the month of import.
A penalty will be imposed by the tax authority if VAT returns are not submitted on time, or the related tax is not paid by the due date.
The late submission of the return carries a penalty of N$ 100 for each day that the return is late.
Late payment of the tax due carries a penalty of 10% for every month or part of a month during which the payment is made late. The penalty imposed may not exceed the tax amount due.
The late payment of the VAT also attracts simple interest of 20% per annum. The interest charged may not exceed the tax amount due.
Yes. Penalties can be imposed where businesses do not comply with the VAT rules.
Criminal proceedings may be brought in the case of more serious matters.
No. Only persons registered for VAT in Namibia can claim input tax paid by them.
A VAT invoice must show:
• the words “tax invoice” in a prominent place;
• the name, address and VAT registration number of the registered person making the supply;
• the name and address of the recipient of the supply;
• the individualised serial number and the date on which the invoice is issued;
• a description of the goods or services supplied;
• the quantity or volume of the goods or services supplied;
• the total amount of the tax charged, the consideration for the supply, and the consideration including tax.
Only one ‘original’ tax invoice may be issued. Any copy supplied, must be marked ‘copy’.
The only document which must be submitted with the VAT return is the proof of payment of the tax due.
For further information on indirect tax in Namibia please contact: