Finance

Finance (607)

Rate this item
(0 votes)

The Namibia Revenue Agency (NamRA) has announced the planned implementation of revised Good Standing Certificates issuance guidelines effective on 1 June 2024. This is what to know about the transitional immediate measures applicable to taxpayers to get Certificates of Good Standing until June 2024:

  1. At the date of application of the first Certificate of Good Standing, a taxpayer is required to pay an amount equal to 10% of the outstanding capital balance.
  2. The payment plan shall be registered on the Integrated Tax Administration System and instalments shall be spread across a period of twelve consecutive months.
  3. When requesting an additional Certificate of Good Standing, a taxpayer needs to demonstrate that they have honoured the instalments either through consecutive monthly payments or by paying an amount larger than the agreed monthly instalment.
  4. A taxpayer who secures a procurement contract shall be required to settle all outstanding capital amounts promptly.
  5. Any taxpayer who fails to honour the payment arrangement, as duly recorded on ITAS, shall only be given a Certificate of Good Standing upon payment of an amount equal to 20% of the capital balance.
  6. The transitional arrangements shall be implemented with immediate effect and no discretion shall be allowed in the issuance of Certificate of Good Standing.
Rate this item
(0 votes)

Life is a journey and not a destination. The same goes for the maturing of any compliance function.

Rate this item
(0 votes)

Namibian bank’s assets have recorded a 10.7% growth to reach N$161.4 billion at the end of September 2022, the central bank’s Macroprudential Oversight Committee has revealed, but warns of inflationary pressure threats to the sector.

Rate this item
(0 votes)

If you ever wondered how much you are really paying in bank charges, the Bank of Namibia (BoN) has released a study on bank charges of selected transactional services on the Basic Bank Account for eight banking institutions in Namibia as of 30 September 2022 and it sheds some light on how much Namibians are really paying for various products and services offered.

Rate this item
(0 votes)

Germany is considering providing aid for a N$182 billion (€10 billion) hydrogen project in Namibia, according to people familiar with the matter. 

Rate this item
(0 votes)

Standard Bank Namibia has been named the Best Bank and Best Investment Bank in Namibia at the EMEA African Banking Awards for 2022.  

Rate this item
(2 votes)

People in finance, accounting and business understand the concept of profit and loss and can probably recite exactly what it means from their sleep. The concept of profit and loss is widely used to determine the performance of a business at a specific point in time.

Rate this item
(0 votes)

If you read about the latest trends in internal auditing, you will find many articles about agile auditing, robotic process automation, artificial intelligence and other technologies aimed at improving the effectiveness and efficiency of the internal audit processes.

Rate this item
(0 votes)

 Kuleni Financial Services has diversified its business portfolio as it seeks to provide retirement benefits in addition to earlier functions as a funds administrator.  

Rate this item
(0 votes)

Namibia's private sector credit (PSCE) growth is expected to remain subdued in the short term following the Bank of Namibia’s (BoN) decision on Wednesday to hike interest rates by 50 basis points, bringing the prime lending rate to 10.5% and just 25bps below the highest lending rate of the past decade, analysts have said. 

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries