Bipa compliance beneficial for international investments

The Business and Intellectual Property Authority (Bipa) is calling for businesses to take advantage of its penalty waiver programme before it ends.

According to Bipa spokesperson Ockert Jansen, the annual penalty waiver programme is ending on 30 June and no further extension will be mandated.

Jansen says the programme for Bipa to waive annual business penalties between 2012 and 2022 was implemented last year after issues arose following its inception.

According to Jansen, each business is legally required to submit annual returns that inform Bipa of their operations in a timely manner, along with an annual payment of N$120.

However, Jansen says the untimely filing of annual returns leads to penalties, which Bipa is waiving under the programme.

Bipa is providing a clean slate for businesses. This will allow business owners to focus on realising their dreams and inspiring others to help build the Namibian economy, he says.

Jansen notes that the programme was created with the objective of alleviating the financial burden on businesses that are not aware of the penalties on annual duties.

He says the first phase of the programme ended on 31 March, and a three-month extension from 1 April to 30 June was provided due to businesses not having enough time and money to register for the waiver programme.

Jansen says Bipa went to all 14 regions of Namibia to inform business about the waiver services and to bring them closer to businesses located far from Bipa’s offices in Windhoek and Walvis Bay.

Jansen implored those who missed the Bipa officials in the regions to make use of family members in Windhoek and NamPost to send their completed documents.

“There is still time this week to send these documents. On conditions that these documents are properly completed. Because if they come to the point of processing, it becomes a problem.”

Jansen says the penalty waiver is beneficial for compliant businesses as it can tell what amount is being waived and the amount can be capital that is injected back into the business.

Bipa is gearing up to ensure that businesses become more compliant. Pressure from global investors requires Namibian business to be compliant with international requirements.

The benefits for businesses participating in the waiver programme allows them to comply with annual duty requirements, which means they are now able to amend their businesses.

“When you amend, it is beneficial because now you can participate in public procurement processes and you’ll be able to get a good standing certificate,’ he says.

The requirements for anyone who wants to take part in the annual duty penalty waiver programme includes the company’s details, incorporation documents, certification to operate the business, member founding statement, duly certified identity documents of all member shareholders or directors and a completed waiver form.