Description | Rate/Remark |
Foreign Ownership allowed | 100% |
Compulsory government share | No |
Foreign Exchange Controls | Limited |
Tax stability agreements | None |
Corporate tax rates | 32% – 55% |
Corporate tax for non-mining companies | 32% |
Corporate tax for diamond mining | 55% |
Corporate tax for non-diamond mining | 37.5% |
Royalties on rough diamonds | 10% |
Royalties on rough emeralds, rubies & sapphires | 10% |
Royalties on unprocessed dimension stone | 5% |
Royalties on gold, copper, Zinc & other base metals | 3% |
Royalties on Semi-precious stones | 2% |
Royalties on Nuclear fuel minerals | 3% |
Royalties on Industrial Minerals (flourspar, salt, etc) | 2% |
Royalties on non – nuclear fuel materials (coal) | 2% |
Royalties on oil/gas | 5% |
Export Levy (See appendix 2) | |
Corporate tax on oil/gas | 35% |
Tax holidays | None |
Deduct exploration costs (when mineral discovery progresses to mine development) | Yes, 100% in first year |
Deduct development costs | yes, 100% in first three years |
Ring fencing | Yes (oil and gas) |
Forwarding carry of losses | Yes, indefinitely |
Depreciation | Yes, 33.3% straight |
Capital gains tax | 0% |
Value added tax | 15% |
Non Resident Shareholder’s Tax (NRST) | 20% |
NSRT- If a Non- resident recipient of dividends is a company which holds at least 25% of the capital of Namibian company paying the dividend. | 10% |
Withholding tax | 10% |
PAYE | See Appendix 1 |
Land tax (on valuation) | Namibian Citizens – 0.75%, Foreugn Nationals 1.5% |
Provincial taxes | None |
Municipal taxes | Services (Rates on Services) |
Exploration & Mining Licence Fees | Yes, schedule available from office of the mining Commissioner |
Surface rent | To landowner, on mutual compensation agreement |
Mineral ownership | Vested in the State |
Training Levy | 1% of payroll (Total Cost to Company) |
Pre-production exploration, development costs, dividends, capital equipment, royalties, export levies, operating costs, loan interest, post-production exploration, withholding taxes, import duties, and payroll taxes.
Appendix 1 (PAYE Table)
Taxable Income (N$) | Rates of tax for year of assessment ending 28 February 2014 (N$) |
0 – 50,000 | Not taxable |
50,001 – 100,000 | 18% for each N$ above 50,001 |
100,001 – 300,000 | 9,000 + 25% for each N$ above 100,001 |
300,001 – 500,000 | 59,000 + 28% for each N$ above 300,001 |
500,001 – 799,999 | 115,000 + 30% for each N$ above 500,001 |
800,000 – 1,500,0001 | 205,000 + 32% for each N$ above 800,001 |
Above 1,500,0001 | 429,000 + 37% for each N$ above 1,500,001 |
Appendix 2 (Export Levy Table)
Main Product | Specific Products | EU | General |
Lithium | Lithium Carbonates | Free | 2.0% |
Diamond | Pure unsorted rough diamonds | 2.0% | 2.0% |
Sorted by size | 1.50% | 1.50% | |
Sorted & grazed | 1.0% | 1.0% | |
Cut & polished | 0.50% | 0.50% | |
Product of jewellery etc. | 0% | 0% | |
Zinc | Crushed Ore | 2% | 2% |
Zinc Concentrate | 1.00% | 1.00% | |
Zinc Sheets | 0.50% | 0.50% | |
Zinc Ingots | 0.25% | 0.25% | |
Steel Products | 0.00% | 0.00% | |
Lead, Other metals | Lead Concentrate | 1.00% | 1.00% |
Uranium | Uranium oxide/yellow | 0.25% | 0.25% |
Copper | CU Concentrate | 1.00% | 1.00% |
Gold | Gold Bullion | 1.00% | 1.00% |
Manganese | Manganese Concentrate | 1.00% | 1.00% |
Fluorspar | Acid Grade Fluorspar Acid Grade Fluorspar | 0.25% | 0.25% |
Other Metals. Precious and Semi – precious stones | Pure metal stone | 0.25% | 0.25% |
Dimension Stones | Stone blocks | 2.00% | 15.00% |
Marbles | Stone blocks | 2.00% | 15.00% |
Tantalum | Unwrought tantalum, including bars and rods obtained simply by sintering; powders | Free | 2.00% |
Gas | Unrefined gas of all types | 1.50% | 1.50% |
Refines gas of all types | 0.00% | 0.00% | |
Crude Oil | Unrefined crude oil of all types | 1.50% | 1.50% |
Refines oil of all types | 0.00% | 0.00% | |