Namibia to write off US$1.1 billion in tax interest and penalties

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Tax
Spining

Namibia has decided to write off 15 billion Namibian dollars (about 1.1 billion U.S dollars) in tax interest and penalties to those who apply for the waive.

Briefing the media Thursday in Windhoek, information minister Tjekero Tweya said the Cabinet has authorized the treasury to waive and write off the penalties and interests that accrued on outstanding taxes.

Finance minister Calle Schlettwein, who also held a separate media briefing Thursday, said the decision does not mean that the government is helping those who owe taxes but it is meant to reduce the rising tax debt.

The finance minister could not, however, give more details as to how this would be done. He also could not say when the government will implement the decision. Enditem

Source: Xinhua/NewsGhana.com.gh

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