Namra achieves 80% of revenue target

AS the third quarter of the financial year drew to a close, the Namibia Revenue Agency (Namra) collected a net amount of N$56,9 billion, which translates to 80% of the total revenue target for the 2023/2024 financial year.

This was according to Namra’s January newsletter.

“The achievement of collecting N$56,9 billion represents a significant milestone for Namra, underscoring our commitment to fiscal responsibility and effective revenue management,” said Namra commissioner Sam Shivute.

The breakdown of this achievement reveals that Namra collected gross revenue of N$64,4 billion, with N$7,5 billion refunded between April and December 2023.

“These figures reflect our dedication to transparency and accountability in revenue collection,” said Shivute.

Shivute added that there were key strategic initiatives undertaken during the period, including the launch of Namra’s Ethics and Integrity Policy, aimed at fostering a culture of responsibility within the organisation.

“This policy sets the stage for a transparent and ethical work environment, crucial for our sustained success,” said Shivute.

Moreover, Namra collaborated with various stakeholders to launch the Time Release Study Report at Walvis Bay, providing valuable insights into streamlining logistics processes.

“The report serves as a valuable tool for identifying bottlenecks and areas for improvement within the logistics chain,” said Shivute.

Addressing the backlog of pending refunds, Namra announced the commencement of a mass release/payment of tax refunds to individual salaried persons and pensioners.

“This initiative reaffirms Namra’s commitment to providing efficient and timely taxpayer services,” said Shivute.

Shivute also urged taxpayers to leverage the remaining 10 months of the current Tax Amnesty Programme, stating its importance in fulfilling obligations and taking advantage of the provided provisions before the due date of 31 October 2024.

“In alignment with the vision set forth by president Hage Geingob, who declared 2024 the ‘Year of Expectation,’ Namra’s focus areas for the year ahead include improved service delivery, implementation of approved business processes and enhanced compliance and enforcement,” said Shivute.

Walvis Bay Port Users Association chairperson Ralph Ruiters spoke about the importance of collaboration in addressing challenges faced by the port.

“The path forward necessitates collaboration among stakeholders to establish Namibia as a premier end-to-end logistics solution in the region. With strategic allocation of resources, we can secure long-term cargo volumes and strengthen Namibia’s position as a preferred logistics hub,” said Ruiters.

e-mail:shania@namibian.com.natwitter:@ShaniaLazarus