In an ambitious move to digitize tax collection and ensure efficiency, Namibia’s Finance Minister, Iipumbu Shiimiin, announced a significant shift towards electronic invoicing during the 2024/25 financial year. This initiative, a collaboration between the Ministry and the Namibia Revenue Agency (NamRA), aims to integrate business cash registers with the Integrated Tax Administration System (ITAS). The move is expected to streamline VAT data collection, minimize fraud, and lower compliance costs, marking a significant step forward in modernizing Namibia’s VAT system. Additionally, SMEs will see a relief with the VAT registration threshold doubling, easing the burden on growing businesses. This dual approach underscores Namibia’s commitment to fostering a more efficient, transparent, and business-friendly tax environment.
