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How to make a tax payment

Posted 22 April 2015 under Tax

In some situations you may be required to make an additional tax payment with the submission of the annual income tax return (for example where the employer has not deducted enough employee taxes for the period, or where you are conducting business in your own name)

With the various payment methods available, the payment process is fairly simple.

The payment options available are:
  • Cash
  • Cheque
  • Electronic fund transfer
Below we will explain how to make a tax payment using the different options.

1. Cash payment

Ensure you have the correct amount in cash before visiting your regional office for payment.

The return you will submit with your cash payment will be the last page of your tax return (the page at the back), which states the amount payable to Inland Revenue. Here is an example of the page:



Remember to make the payment before submitting the tax return.

Tax payments are received by the Cash Office of the regional Inland Revenue offices. Please note the Cash Offices’ working hours are from 08h00 - 13h00 weekdays.

When making the payment at the Cash Office, the teller will receive the money, count it and process the payment on the system. The teller will take your tax return and tear off the bottom part of the back page, and print a receipt number on the ‘slip’:



This slip with the printed receipt number will be your proof of payment of the tax.

Once your payment is captured and you have your receipt you can proceed to submit the rest of the tax return at the Customer Care counter.

Remember to keep you copy of the submitted tax return (which was stamped) as well as the receipt for the tax payment made.


2. Cheque payment

Ensure you have a signed cheque before visiting your regional office for payment.

The return you will submit with your cheque payment will be the back/last page of your tax return, which states the amount payable to Inland Revenue. Here is an example of the page:



For cheque payments please note that Inland Revenue will not accept cheques to the value of more than N$500,000.

The cheque should be made out to Inland Revenue (NOT Ministry of Finance and NOT Receiver of Revenue). It is also advised to write your tax number on the back of the cheque.

With the return and the cheque in hand, visit your regional office to make the payment before submitting the tax return.

Tax payments are received by the Cash Office of the regional Inland Revenue offices. Please note the Cash Offices’ working hours are from 08h00 – 13h00 weekdays.

When making the payment at the Cash Office, the teller will receive the cheque and process the payment on the system. The teller will take your tax return and tear off the bottom part of the back page, and print a receipt number on the ‘slip’:



This slip with the printed receipt number will be your proof of payment of the tax.

Once your payment is captured and you have your receipt you can proceed to submit the rest of the tax return at the Customer Care counter.

Remember to keep you copy of the submitted tax return (which was stamped) as well as the receipt for the tax payment made.


3. EFT (Electronic Fund Transfer) payment

The return you will submit with your cheque payment will be the back/last page of your tax return, which states the amount payable to Inland Revenue. Here is an example of the page:



When using internet banking you will need the following information to make the EFT payment:

1. Inland Revenue’s bank account:

Bank: Bank of Namibia
Branch Code: 980 172
Account Name: Receiver of Revenue
Account Number: 165 001
Type of Account: Current

The commercial banks also have an option to pay to Public Beneficiaries. You can contact your local bank to find out more.  Under public beneficiaries you will find a beneficiary:

FNB Namibia – Payment to a Public Recipient “Receiver of Revenue Namibia”
Standard Bank- Payment to - “Inland Revenue Namib”
Nedbank - Payment – tax payment
Bank Windhoek – Make payment – Tax payment

2. Your personal tax payment reference number:

The reference number will be made up of 3 sections put together
Section 1 will be the letters: ITP
Section 2 will be your personal tax number: for e.g. 1578975011
Section 3 will relate to your tax year payment: for e.g. 201503 (the ‘03’ relates to a final payment).

So the complete reference will be ITP1578975011201503 (for example)

It is important to get the reference number correct, otherwise you payment will NOT be allocated to your account correctly.

Once the EFT payment is made successfully, print the proof of the payment.

Unfortunately EFT payments cannot be captured immediately with the submission of your tax return. Therefore no visits to the Cash Office are required. Only submit the tax return with the proof of payment attached (remember to get it stamped) at the customer care counter.

Remember to keep you copy of the submitted tax return (which was stamped) as well as the stamped EFT proof of payment.

VERY IMPORTANT

In order for the amounts to be reflected on time in the bank account of Inland Revenue, payment needs to be made no later than 11:00 on the day before the due date for submission of the return (for e.g. where due date for submission is 30 June, payment needs to be made at the latest on 29 June at 10:59)
Where payment is not made before this time, you run the risk of penalties and interest for late payment.  Inland Revenue uses the date of payment as the date on which the amount reflected on their bank account.

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