18 May 2016 Namibia proposes withholding tax rate increase on directors' fees and entertainment fees The Income Tax Amendment Act, Act 13 of 2015, effective December 30, 2015, reduced the rate of withholding tax on service payments to nonresidents from 25% to 10%. At the time, Inland Revenue advised that the intention was to only reduce the withholding tax on the services rate with respect to a management or consultancy fee as defined under the Act. However, the said amendment was drafted in such a manner that the rate of withholding tax was reduced for all payments for services subject to withholding tax. Document ID: 2016-0884 |
