namibia budget review 2009 weathering the storm 19 march
play

Namibia Budget Review 2009 Weathering the Storm 19 March 2009 PwC - PowerPoint PPT Presentation

Aug 18, 2022 •1.11k likes •1.82k views

Namibia Budget Review 2009 Weathering the Storm 19 March 2009 PwC Topical Tax matters 05 March 2008 PricewaterhouseCoopers Slide 2 Topical Tax Matters Withholding taxes, effective from 01 March 2009 is payable on interest paid to any

  1. Namibia Budget Review 2009 Weathering the Storm 19 March 2009 PwC

  2. Topical Tax matters 05 March 2008 PricewaterhouseCoopers Slide 2

  3. Topical Tax Matters Withholding taxes, effective from 01 March 2009 is payable on interest paid to any person other than a Namibian company

  4. Topical Tax Matters Withholding tax on interest is calculated at a rate of 10% 05 March 2008 PricewaterhouseCoopers Slide 4

  5. Topical Tax Matters The person who is liable for the tax is the person to whom the interest accrues. 05 March 2008 PricewaterhouseCoopers Slide 5

  6. Topical Tax Matters Withholding is to be deducted or withheld by the Namibian Bank / Unit Trust Scheme, and paid over to the Receiver of Revenue. 05 March 2008 PricewaterhouseCoopers Slide 6

  7. Topical Tax Matters Interest received by Namibian companies, CC’s etc will be taxed at the corporate tax rate 05 March 2008 PricewaterhouseCoopers Slide 7

  8. Topical Tax Matters Interest that accrued to any person who is exempt from tax ito section 16 will be exempt from withholding tax 05 March 2008 PricewaterhouseCoopers Slide 8

  9. Topical Tax Matters Banking institutions in Namibia need not issue annual certificates in instances where the tax collected does not exceed N$100.00 per reporting period. 05 March 2008 PricewaterhouseCoopers Slide 9

  10. Topical Tax Matters Non-compliance Do you realise how much it can hurt you if your VAT payments are underpaid?

  11. Topical Tax Matters Importing a service Do you consider import VAT on importing a service? 05 March 2008 PricewaterhouseCoopers Slide 11

  12. Topical Tax Matters Do you reconcile your import VAT report on a monthly basis to Asycuda? 05 March 2008 PricewaterhouseCoopers Slide 12

  13. Topical Tax Matters For an export to be a direct export, adherence to requirements are important 05 March 2008 PricewaterhouseCoopers Slide 13

  14. The 2009/2010 Budget 05 March 2008 PricewaterhouseCoopers Slide 14

  15. The Numbers in the Budget 2005 2006 2007 2008 2009 2010 2010 2011 2012 N$million N$million N$million N$million N$million N$million N$million N$million N$million Actual Actual Actual Actual Estimate Budget Forecast Forecast Forecast 11,425 13,108 17,593 20,617 20,732 21,753 21,753 21,145 22,687 Revenue (12,493) (13,189) (15,279) (17,383) (22,469) (21,749) (21,749) (26,394) (26,309) Spending (1,068) (81) 2,314 3,234 (1,737) 4 4 (5,249) (3,622) Surplus / (Deficit) Surplus/(Deficit) (2.9%) (0.2%) 4.8% 5.1% (2.6%) 0.0% 0.0% (7.1%) (4.6%) as % of GDP 12,642 12,772 13,636 11,693 14,785 16,515 16,515 17,599 - Government debt 33.8% 32.3% 28.3% 18.5% 22.1% 23.6% 25.6% 23.8% 0.0% Debt as % of GDP 37,385 39,562 48,228 63,217 66,955 69,868 64,590 73,855 79,428 GDP 30.6% 33.1% 36.5% 32.6% 31.0% 31.1% 33.7% 28.6% 28.6% Revenue/ GDP 05 March 2008 PricewaterhouseCoopers Slide 15

  16. Tax Revenue Composition 2009 - Estimate 3% 34% 44% 2010 - PY Forecast 19% 3% 35% Income Tax VAT Customs & Excise Other taxes 42% 2010 - Budget 20% Income Tax VAT Customs & Excise Other taxes Income Tax VAT Customs & Excise Other taxes 05 March 2008 PricewaterhouseCoopers Slide 16

  17. How Do We Compare With Our Neighbours? 05 March 2008 PricewaterhouseCoopers Slide 17

  18. Highest Tax Rates For Low And Middle Income Individuals Taxable income South Africa South Africa Namibia Botswana (Over 65) (Under 65) (Residents) N$ / R R R N$ N$*** 40,000 - - - 74 80,000 - 4,644 10,800 2,298 200,000 25,604 31,004 49,200 25,449 300,000 55,604 61,004 83,200 50,449 500,000 128,304 133,704 151,200 100,449 526,000 138,204 143,604 160,040 106,949 567,090 154,640 160,040 174,011 117,222 580,590 160,040 165,440 178,601 120,597 *** Converted at a rate of BWP 1= NAD 1.2837 05 March 2008 PricewaterhouseCoopers Slide 18

  19. Corporate Tax Rates South Africa Namibia Botswana Corporate tax rate - Basic tax rate 28.00% 34.00% 15.00% - Additional tax rate 0.00% 0.00% 10.00% Branch taxation 33.00% 25.00% 34.00% Manufacturing companies - Basic tax rate 28.00% 18.00% 5.00% - Additional tax rate 0.00% 0.00% 10.00% Pension fund - Approved funds Nil Nil Nil - Unapproved funds Nil Nil 7.50% Short-term insurance companies 28.00% 15% + 10% 34.00% Long-term insurance companies - Corporate fund 28.00% 14.00% 15% + 10% - Company policyholder fund 28.00% 14.00% 15% + 10% - Individual policyholder fund 30.00% 15% + 10% 14.00% - Other 0.00% 14.00% 15% + 10% 05 March 2008 PricewaterhouseCoopers Slide 19

  20. Other Tax Rates South Africa Namibia Botswana Value-added tax 14.00% 10.00% 15.00% Donations / Estate duty 20.00% Nil Nil Secondary tax on companies - From 1 October 2007 10.00% Nil Nil Withholding tax on dividends Nil 15.00% 10.00% (Subject to Double Tax Agreements) 05 March 2008 PricewaterhouseCoopers Slide 20

  21. Corporate Capital Gains Tax South Africa Namibia Botswana Special Trusts - Portion to be included in taxable income 25.00% 0.00% - Maximum effecitve rate 10.00% 0.00% Other Trusts - Portion to be included in taxable income 50.00% 0.00% - Maximum effecitve rate 20.00% 0.00% Companies - Portion to be included in taxable income 50.00% 0.00% - Maximum effective rate 14.00% 0.00% - Basic tax rate 15.00% - Additional tax rate 10.00% 05 March 2008 PricewaterhouseCoopers Slide 21

  22. Namibia’s Economy* N$ Billion N$ Billion N$ Billion South Africa Namibia Botswana *** Revenue 642.9 31.3 21.8 Expenditure 738.6 25.4 48.7 National budget surplus/(deficit) -95.7 -3.6 -17.4 GDP 2,474.2 69.9 123.2 Surplus/ deficit as percentage of GDP -3.87% -5.21% 16.72% Revenue as a percentage of GDP 25.98% 31.16% 25.41% *** Converted at a rate of BWP 1= NAD 1.2837 05 March 2008 PricewaterhouseCoopers Slide 22

  23. Comparison with neigbours - Revenue as a percentage of GDP 45% 40% 35% 30% Revenue as a percentage of GDP 25% 2009 Revenue as a percentage of GDP 20% 2010 15% 10% 5% 0% South Africa Namibia Botswana 05 March 2008 PricewaterhouseCoopers Slide 23

  24. Gross Domestic Product GROSS DOMESTIC PRODUCT 80,000 70,000 60,000 N$million 50,000 40,000 30,000 20,000 10,000 - 2004 2005 2006 2007 2008 - 2009 - 2010 - 2010 - 2011 - Actual Actual Actual Actual Actual Estimate Budget PY Forecast Forecast GDP Average for the past 5 years 05 March 2008 PricewaterhouseCoopers Slide 24

  25. GDP Growth Rate 05 March 2008 PricewaterhouseCoopers Slide 25

  26. Revenue vs Spending 30,000 8.00% 6.00% 25,000 4.00% 20,000 Revenue 2.00% 15,000 Expenses 0.00% % Deficit 10,000 -2.00% 5,000 -4.00% - -6.00% 2004 2005 2006 2007 2008 - 2009 - 2010 - 2010 - PY 2011 - 2012 - Actual Actual Actual Actual Actual Estimate Budget Forecast Forecast Forecast 05 March 2008 PricewaterhouseCoopers Slide 26

  27. Budget surplus/(deficit) Budget surplus/(deficit) 4,000 3,000 2,000 1,000 N$million - (1,000) (2,000) (3,000) (4,000) (5,000) (6,000) 2004 2005 2006 2007 2008 - 2009 - 2010 - 2010 - PY 2011 - 2012 - Actual Actual Actual Actual Actual Estimate Budget Forecast Forecast Forecast 05 March 2008 PricewaterhouseCoopers Slide 27

  28. Revenue composition REVENUE COMPOSITION 50% of total Revenue 40% Percentage 30% 20% 10% 0% Income tax VAT C & E Other taxes Average for past 5 years 2010 Forecast PY 2011 Forecast 2012 Forecast 05 March 2008 PricewaterhouseCoopers Slide 28

  29. Revenue growth & composition REVENUE GROWTH & COMPOSITION 10,000 8,000 N$ millions 6,000 4,000 2,000 - 2004 2005 2006 2007 2008 - 2009 - 2010 - 2010 - PY 2011 - 2012 - Actual Actual Actual Actual Actual Estimate Budget Forecast Forecast Forecast Years Income taxes VAT Customs & Exise 05 March 2008 PricewaterhouseCoopers Slide 29

  30. Government debt GOVERNMENT DEBT 25,000 20,000 N$millions 15,000 10,000 5,000 - 2004 2005 2006 2007 2008 - 2009 - 2010 - 2010 - PY 2011 - 2012 - Actual Actual Actual Actual Actual Estimate Budget Forecast Forecast Forecast Foreign debt Domestic debt Total debt 05 March 2008 PricewaterhouseCoopers Slide 30

  31. World Bank Doing Business Report 05 March 2008 PricewaterhouseCoopers Slide 31

  32. Namibia is ranked 12 th best, out of 181 countries, for obtaining credit, with the strength of legal rights relating to this, rating 8 out of a possible 10.

  33. Namibia ranks 51st, out of 181 countries, for the general ease of doing business.

  34. Ratings compared to neighbours South Africa Namibia Botswana Paying of taxes 23rd 96th 17th - Payments per year 9 37 19 - Time in hours per year 200.0 375.0 140.0 - Total tax rate (% of profit) 34.2% 25.3% 17.1% - Total tax rate ranking 51 20 10 05 March 2008 PricewaterhouseCoopers Slide 34

  35. Ratings compared to neighbours South Africa Namibia Botswana Registering property 87th 129th 29th - Number of procedures 6 9 4 - Time in days 24.0 23.0 11.0 - Cost (% of property value) 4.8% 9.9% 5.0%

Download Presentation
Download Policy: The content available on the website is offered to you 'AS IS' for your personal information and use only. It cannot be commercialized, licensed, or distributed on other websites without prior consent from the author. To download a presentation, simply click this link. If you encounter any difficulties during the download process, it's possible that the publisher has removed the file from their server.

Recommend

Weathering the storm* Budget 2009 PwC *connectedthinking Market capitalisation of banks

Weathering the storm* Budget 2009 PwC *connectedthinking Market capitalisation of banks

Weathering the storm* Budget 2009 PwC *connectedthinking Market capitalisation of banks Citigroup HSBC 255 JP Morgan 215 165 RBS UBS 12 116 0 19 97 85 4.6 35 June 2007/ # Jan 2008 Goldman January 2009 Societe Deutsche Sachs

466 views • 30 slides
Batten Down the Hatches! Weathering the Budget Storm with Your Foundation Overview Welcome

Batten Down the Hatches! Weathering the Budget Storm with Your Foundation Overview Welcome

Batten Down the Hatches! Weathering the Budget Storm with Your Foundation Overview Welcome and Introductions Supporting Infrastructure Through Social Enterprise (Robert Schwartz) Getting Federal Match Dollars Through Strategic

836 views • 51 slides
W W Weathering the storm vs. your financial Weathering the storm vs. your financial th th i

W W Weathering the storm vs. your financial Weathering the storm vs. your financial th th i

W W Weathering the storm vs. your financial Weathering the storm vs. your financial th th i i th th t t fi fi i l i l bottom line bottom line hedging weather hedging weather- -related related risks in the viticulture

570 views • 46 slides
The COVID-19 Storm and Recession Aftermath Weathering the Storm and Cleanup: Bankruptcy,

The COVID-19 Storm and Recession Aftermath Weathering the Storm and Cleanup: Bankruptcy,

Wednesday, May 20, 2020 The COVID-19 Storm and Recession Aftermath Weathering the Storm and Cleanup: Bankruptcy, Foreclosure and Collection Bankruptcy, Foreclosure and Collection What to Expect in 2020 Insights from Historic and Current Data

437 views • 40 slides
Weathering the Storm The City of Burlington learns from the August 4 th , 2014 flood September 13,

Weathering the Storm The City of Burlington learns from the August 4 th , 2014 flood September 13,

Weathering the Storm The City of Burlington learns from the August 4 th , 2014 flood September 13, 2016 Agenda 1. The Flood 2. Characterization of the Storm 3. The Response 4. The Study 5. Lessons Learned 6. Next Steps 2 1. The Flood 3

820 views • 67 slides
Economy and our Industry, plus Advice from Bankers on Weathering the Storm Presenters: David

Economy and our Industry, plus Advice from Bankers on Weathering the Storm Presenters: David

COVID-19: How It's Impacting the Economy and our Industry, plus Advice from Bankers on Weathering the Storm Presenters: David Nelson-Study Groups Johnny Milazzo-Lard Oil , Don Stephenson-Cary Oil , Steve Ward-US Bank, Mike Phelps-Citizens Bank

523 views • 31 slides
WEATHERING THE PLASTICS STORM PLASTIC IS NOT PLASTIC ? When it comes to recycling!

WEATHERING THE PLASTICS STORM PLASTIC IS NOT PLASTIC ? When it comes to recycling!

WEATHERING THE PLASTICS STORM PLASTIC IS NOT PLASTIC ? When it comes to recycling! Education is Key o Consumer starts the loop. Who talks to the consumer? o Municipalities o I Want To Be Recycled (.org) Plastic Recycling

300 views • 12 slides
Weathering the Storm: Fiscal Resiliency in the Face of Disaster Liz Harvell Norma Houston 2018

Weathering the Storm: Fiscal Resiliency in the Face of Disaster Liz Harvell Norma Houston 2018

Weathering the Storm: Fiscal Resiliency in the Face of Disaster Liz Harvell Norma Houston 2018 NCLGBA Summer Conference | July 12, 2018 Part 1: Tips and Resources for Local Government Financial Preparedness and Resiliency Before Natural

786 views • 51 slides
Weathering Weathering Weathering Breaking down of rocks into simpler components Size

Weathering Weathering Weathering Breaking down of rocks into simpler components Size

Weathering Weathering Weathering Breaking down of rocks into simpler components Size Composition Mechanical Weathering Changes size and shape of the rock but not its chemical composition Temperature Change Abrasion

591 views • 14 slides
SECURITIES FORUM 2008 Weathering the Economic Storm October 23, 2008 9:00 a.m. to 3:00 p.m.

SECURITIES FORUM 2008 Weathering the Economic Storm October 23, 2008 9:00 a.m. to 3:00 p.m.

SECURITIES FORUM 2008 Weathering the Economic Storm October 23, 2008 9:00 a.m. to 3:00 p.m. Sheraton Stamford Hotel Stamford, Connecticut Sponsored by the Connecticut Department of Banking, Securities and Business Investments Division, and

493 views • 8 slides
Small European economies weathering the storm of the financial and economic crisis EFTA

Small European economies weathering the storm of the financial and economic crisis EFTA

Small European economies weathering the storm of the financial and economic crisis EFTA parliamentary Committee p y Brussels, 16 November 2011 1 Small European economies a h homogeneous group? ? Inside / outside the EU EEA or not?

420 views • 8 slides
Weathering the Storm: Critical Legal & Operational Issues Shaping Healthcare in 2010

Weathering the Storm: Critical Legal & Operational Issues Shaping Healthcare in 2010

Weathering the Storm: Critical Legal & Operational Issues Shaping Healthcare in 2010 Pre-Seminar Workshop

440 views • 29 slides
FY 2009 Budget & Finance Update Five Year Financial Forecast FY 2009 Mid Year Budget

FY 2009 Budget & Finance Update Five Year Financial Forecast FY 2009 Mid Year Budget

FY 2009 Budget & Finance Update Five Year Financial Forecast FY 2009 Mid Year Budget Adjustment Presented by Peter Zanoni, Management & Budget Director City Council B Session April 29, 2009 Presentation Outline Review

1.15k views • 65 slides
Mechanical Weathering Objectives Students will be able to: Explain how weathering breaks

Mechanical Weathering Objectives Students will be able to: Explain how weathering breaks

Mechanical Weathering Objectives Students will be able to: Explain how weathering breaks down rock. Explain how a rocks surface area affects the rate of weathering. The Great Sphinx Of all the amazing statues built in ancient times,

448 views • 33 slides
Budget on a plate 2019/2020 Presentation by PwC in collaboration with Standard Bank Namibia

Budget on a plate 2019/2020 Presentation by PwC in collaboration with Standard Bank Namibia

Budget on a plate 2019/2020 Presentation by PwC in collaboration with Standard Bank Namibia Safari Hotel and Conference Centre March 2019 Three-linked and Interconnected Fiscal Policy Actions 1 3 Growth 2 Stimulus Structural Reduced

666 views • 41 slides
March 24, 2008 2008-09 Budget Presentation DiSlfl . 2008-09 Budget The Budget

March 24, 2008 2008-09 Budget Presentation DiSlfl . 2008-09 Budget The Budget

March 24, 2008 2008-09 Budget Presentation DiSlfl . 2008-09 Budget The Budget Process: e Input from - Staff Principals Directors Iii Central Office Review Finance Committee Review 11 Full Board Review 11 Public

422 views • 11 slides
COVID-19 Self-Employment Income Support Scheme CIOT/ATT Webinar Thursday 7 May 2020 10.30am

COVID-19 Self-Employment Income Support Scheme CIOT/ATT Webinar Thursday 7 May 2020 10.30am

COVID-19 Self-Employment Income Support Scheme CIOT/ATT Webinar Thursday 7 May 2020 10.30am 12.00pm Presenters Rich chard W Wild Head of the CIOTs Technical Team Margaret C Curran CIOT Technical Officer Em Emma R

788 views • 35 slides
2004 Full Year Results March 2005 NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO A U.S. PERSON

2004 Full Year Results March 2005 NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO A U.S. PERSON

2004 Full Year Results March 2005 NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO A U.S. PERSON OR IN CANADA OR JAPAN. 30/03/2015 09:10:14 Admiral Is Different 2004 Highly Profitable a Fast Growing a Strongly Cash Generative

556 views • 29 slides
Agenda Recent tax cases CT losses following acquisition CIS Gross payment status appeal

Agenda Recent tax cases CT losses following acquisition CIS Gross payment status appeal

Agenda Recent tax cases CT losses following acquisition CIS Gross payment status appeal HMRC announcements Other tax developments Recent tax cases Set off of losses following acquisition Leekes Ltd v HMRC (2015) FTT 93

692 views • 35 slides
EMPLOYEE BENEFITS AND INCENTIVES 14 th May 2015 KSW1 RESEARCH Research into 20 of the most

EMPLOYEE BENEFITS AND INCENTIVES 14 th May 2015 KSW1 RESEARCH Research into 20 of the most

EMPLOYEE BENEFITS AND INCENTIVES 14 th May 2015 KSW1 RESEARCH Research into 20 of the most profitable agencies Seven key trends and behaviours common across them were: Culture of the agency and senior team People:

1.14k views • 56 slides
Consistent Progress Continues Bruce Van Saun, Group Finance Director UBS Global Financial

Consistent Progress Continues Bruce Van Saun, Group Finance Director UBS Global Financial

Consistent Progress Continues Bruce Van Saun, Group Finance Director UBS Global Financial Services Conference 10 th May 2011 Important Information Certain sections in this presentation contain forward-looking statements as that term

665 views • 34 slides
MITOCW | watch?v=JE80wLNIhjE The following content is provided under a Creative Commons license.

MITOCW | watch?v=JE80wLNIhjE The following content is provided under a Creative Commons license.

MITOCW | watch?v=JE80wLNIhjE The following content is provided under a Creative Commons license. Your support will help MIT OpenCourseWare continue to offer high quality educational resources for free. To make a donation, or to view additional

446 views • 28 slides
All you need to know about Hong Kong payroll Agenda: 1. Payroll 2. Social Security 3. Tax

All you need to know about Hong Kong payroll Agenda: 1. Payroll 2. Social Security 3. Tax

All you need to know about Hong Kong payroll Agenda: 1. Payroll 2. Social Security 3. Tax Payroll Payroll Tax year runs 01 st April to 31 st March. National Tax levied at rates between 2% an 17% and there is no tax-free threshold

847 views • 83 slides
QFA Pensions 2018/2019 Lecture Workshop Day Look at chapters Slides and manual Questions

QFA Pensions 2018/2019 Lecture Workshop Day Look at chapters Slides and manual Questions

04/12/2018 QFA Pensions 2018/2019 Lecture Workshop Day Look at chapters Slides and manual Questions Your question Examples Calculations Approaching the exam On time Calculatorsimple Pencil and rubber given Exam paper & Answer

970 views • 74 slides

More recommend