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TAX UPDATE 15 OCTOBER 2014 SAFARI COURT HOTEL Presented by: Sam SHIVUTE

TAX UPDATE 15 OCTOBER 2014 SAFARI COURT HOTEL Presented by: Sam SHIVUTE COMMISSIONER : INLAND REVENUE. MINISTRY OF FINANCE Inland Revenue. PRESENTATION OUTLINE. UPDATE ON ITAS & BPR. ITAS UPDATE. BPR UPDATE. VAT THRESHOLD.

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TAX UPDATE 15 OCTOBER 2014 SAFARI COURT HOTEL Presented by: Sam SHIVUTE

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  1. TAX UPDATE 15 OCTOBER 2014SAFARI COURT HOTEL Presented by: Sam SHIVUTE COMMISSIONER : INLAND REVENUE MINISTRY OF FINANCE Inland Revenue

  2. PRESENTATION OUTLINE

  3. UPDATE ON ITAS & BPR ITAS UPDATE BPR UPDATE

  4. VAT THRESHOLD • The current of N$200 000 is set in respect of annual taxable turnover, and a person whose annual taxable supplies exceed such limit is automatically a registered person whether he registers or not. The VAT threshold is N$200 000 in any 12-month period. • Taxable supplies mean the value of zero rated supplies and standard rated supplies and do not include exempt supplies. • In a case where taxable supplies does not exceed N$200 000 per annum, the Commissioner may permit VOLUNTARY REGISTRATION

  5. TRANSFER DUTY UPDATE

  6. LARGE TAXPAYER OFFICE UPDATE

  7. OBJECTION EMAIL LINE • Total Number of objection received: 304 • Total number dealt with: 131 • Pending objection cases: 173

  8. OBJECTION EMAIL LINE CHALLENGES • Volume of old objections • Backlog • The Human Resource Capital

  9. ISSUANCE OF TAX DIRECTIVE & RULINGS

  10. IMPORT VAT ACCOUNT UPDATE (SUSPENSIONS)

  11. GSC AND TENDER PROCESS • New guidelines developed • Forged good standing certificate • Press release in due time

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