A friend of mine was asking me about the new tax amendments regarding the definition of "Namibia" ( which is now extended to 200 nautical miles and not 12). He is a Spanish captain fishing in Namibia working approximately 5 months per year in Namibia and not necessarily continuously. What are his tax liabilities seeing that he is a non-resident? When does the actual law come into force? When do they start paying tax?
I have CC in which three different "trades" are recorded. The CC documents are in line with this nature of business. The trade are consulting services, investment properties, and a farming operation. Although they all have a different nature I record them altogether in my CC. I know there is a suspect trade section to ring fence losses for natural persons. The section however is not applicable to CCs. My question is if the farming trade in my CC makes losses, can I offset them against the profit...
A company bought a new vehicle for business purposes via a vehicle finance with a local banking institution. The Tax invoice was made out to the Bank however the vehicle is registered in the name of the company. Can the company claim the total Input VAT, although the invoice is not in their name? The invoice only says "delivered to" the company. This seems to be normal practice in Namibia.
I wanted to know how will I be able to pay my outstanding amount for the tax because the numbers given are not working when I try to call. As I understand they are giving fines now before that I wanted to pay the outstanding amount that I owe.