SMEs

Renowned Namibian economist, Rowland Brown, told Xinhua on Wednesday that the government should relax taxation on Small to Medium Scale Enterprises (SMEs) to encourage them to grow and also allow space to create employment.

Brown said Namibia is a low capital market that does not have enough liquidity for businesses to grow, adding that the government needs to allow small players to grow with minimum regulation.

“The contribution of these SMEs to the taxation system is of no relevance so they need to be allowed to grow. When they have grown and created employment, maybe then we can start talking of taxes,” he said.

He said the SME sector is a vital part of the Namibian economy and need to be allowed an opportunity to grow at a time when the Namibian economy is facing challenges.

Brown said currently the SME sector contributes about 12 percent to the total Gross Domestic Product (GDP) and presents a good opportunity for growth in future. Enditem

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.