Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: VAT Audit :: list of goods taxed at 4% :: form 3cd :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: due date for vat payment :: articles on VAT and GST in India
 
 
« Transfer Pricing »
 India-Russia spar over pricing and transfer of tech in Kamov copters
 Highlights Of Recent Amendments In The CommuniquĂ© Concerning The Mergers And Acquisitions
 New transfer pricing decree: a step closer to international standards
 Indiana Combined Reporting and Transfer Pricing Studies
 Secondary Adjustments to Indian Transfer Pricing Regulations
 Stock transfers in GST and how this impacts SMEs
 Government hopes to resolve 100 transfer pricing issues by year end
 Multinationals to heed tax man’s further-reaching hand as transfer pricing disputes come to a head
 Government may be looking to fix a domestic transfer pricing loophole
 Transfer pricing, thin capitalisation decoded
 Transfer pricing in India: Time for a safe-harbour fix

Inland Revenue Confirms Transfer Pricing Unit
July, 13th 2015

Namibia's Inland Revenue has established a transfer pricing unit. "We will be asking you for transfer pricing supporting documents soon," said Acting Commissioner for Inland Revenue, Justus Mwafongwe, at the recent annual tax symposium hosted by the PwC's Namibia Business School.

Mwafongwe confirmed that the draft amendment bills to the Income Tax Act, Value-added Tax (VAT) Act and Transfer Duty Act have been finalised and would be introduced during the current session of the National Assembly. Some of the expected tax amendments include lowering of the company income tax rate to 32 percent, increase in the VAT registration threshold from N$200 000 to N$500 000, provisions on voluntary VAT registration, including the proposal that voluntary registration will only be allowed for businesses with turnovers in excess of N$200 000 and inclusion of share transfers relating to immovable property in the transfer duty net.

Speaking at the same event was Stanley Gurirab, Acting Deputy Director for Trade Facilitation at Customs and Excise, who said there is a new drive by the customs administration to accredit clearing agents, which will address current problematic border declarations and correct reporting of import VAT and customs duties due by importers.

Gurirab said new rules will require clearing agents to apply for renewal of licences at least 30 days before August 01, 2015. He further said going forward, clearing agents will be subjected to stricter control and punitive measures for incorrect declarations done on behalf of their principals.


Goods will not be cleared unless written instructions by importers to its clearing agents have been attached for each consignment. This will to a large extent address the current situation where agents use incorrect import VAT account numbers to clear consignments. Mwafongwe also elaborated on the newly established Large Taxpayers Office, which in spite of staff capacity challenges managed to improve and streamline tax compliance of companies with an annual turnover exceeding N$75 million.

The PwC Tax Symposium 2015 was hosted by the PwC Business School. The session included in-depth tax training and updates on income tax, employee tax and VAT and concluded with a Thought Leadership Tax Update breakfast session.

"The symposium was attended by finance and tax administration personnel from several companies representing inter alia banking, insurance, agriculture, energy and manufacturing sectors. A total of 150 participants benefitted from the training and tax updates and are now better equipped to deal with important tax compliance issues," noted Chantell Husselmann, Director, PwC Business School.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions