#JustIn: NamRA on track with revenue collection
The Namibia Revenue Agency (NamRA) collected a net amount of N$21.4 billion from 1 April to 30 June this year, which equates to 25.1% of the revenue target of N$85.3 billion set for the fiscal year 2024/25.
The revenue generated during this period comprises 63% from domestic taxes and 37% from customs and excise, NamRA says in its latest quarterly newsletter.
Domestic taxes recorded a gross revenue amount of N$15.7 billion, achieving a net collection of N$13.5 billion for the reviewed period.
Customs and excise collected a net revenue amount of N$7.9 billion, predominantly through receipts from the Southern African Customs Union (SACU).
In terms of refunds, N$2.3 billion was disbursed to taxpayers following audits and verifications.
Of this, N$2.15 billion, accounting for 95%, related to value-added tax (VAT) refunds.
The revenue generated during this period comprises 63% from domestic taxes and 37% from customs and excise, NamRA says in its latest quarterly newsletter.
Domestic taxes recorded a gross revenue amount of N$15.7 billion, achieving a net collection of N$13.5 billion for the reviewed period.
Customs and excise collected a net revenue amount of N$7.9 billion, predominantly through receipts from the Southern African Customs Union (SACU).
In terms of refunds, N$2.3 billion was disbursed to taxpayers following audits and verifications.
Of this, N$2.15 billion, accounting for 95%, related to value-added tax (VAT) refunds.
