Namibia Corporate Income Tax

Corporate income tax rates and base

Namibia taxes companies on Namibian-source income at a flat rate, with special higher rates for mining operations. Withholding taxes apply to dividends, interest and royalties paid to non-residents.

• Standard (non-mining) company tax rate — 30% percent (Income Tax Act)
• Rate reduction note — Reduced from 32% to 31% for years of assessment commencing on/after 1 January 2024, and to 30% from 1 January 2025 (Income Tax Act)
• Diamond mining company rate — 55% percent (Income Tax Act)
• Other (non-diamond) mining company rate — 37.5% percent ((approx — confirm)) (Income Tax Act)
• Tax base — Taxable income from a Namibian source (or deemed source), less allowable deductions; foreign-source income generally excluded (Income Tax Act)
• Non-Resident Shareholders Tax (NRST) on dividends — corporate holder with >=25% shareholding — 10% percent (Income Tax Act)
• NRST on dividends — all other cases — 20% percent (Income Tax Act)
• Withholding tax on interest (to non-residents / from banks & unit trusts) — 10% percent (Income Tax Act)
• Withholding tax on royalties (to non-residents) — 10% percent (Income Tax Act)
• Withholding tax on management/consultancy/technical fees to non-residents — 10% percent ((approx — confirm)) (Income Tax Act)
• Annual company income tax return deadline — Within 7 months of the company's financial year-end (Income Tax Act)
• First provisional tax payment — Within 6 months of the start of the financial year; at least 40% of the year's estimated tax (Income Tax Act)
• Second provisional tax payment — On/before the last day of the financial year; cumulatively at least 80% of the year's estimated tax (Income Tax Act)
• Final (top-up) tax payment — Within 7 months after financial year-end, with the annual return (Income Tax Act)