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INCOME TAX AMENDMENT BILL

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INCOME TAX AMENDMENT BILL


To amend the Income Tax Act, 1981 so as to substitute the currency symbol “R” with the currency symbol “N$” and to substitute the currency “Rand” with the currency “Namibia Dollar”; to provide for youth internship allowance; to provide for the limitation of the setting-off of assessed losses; to insert certain definitions; to exclude financial institutions, registered insurers and registered reinsurers from the application of section 95A; to increase the threshold on income tax payable by individuals; to reduce the tax rate payable by non-mining companies; and to provide for incidental matters.


Bill Passage

Complete

In Progress

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Not Applicable

National Assembly


1st Reading

2nd Reading

Committe Stage

3rd Reading

National Council


1st Reading

2nd Reading

Committe Stage

3rd Reading

Final Stages

Consideration of amendments


President Assent


Referrals to Committees

Standing committees are permanent panels identified in Chamber rules, which also list the jurisdiction of each committee. Because they have legislative jurisdiction, standing committees consider bills and issues and recommend measures for consideration by the House.


House Standing Committee Name Date Assigned Members Reports

Debates on the Bill

Debates on a bill refer to the discussions, arguments, and exchanges of opinions that take place among legislators during the legislative process. When a bill is presented to a legislative body, such as a parliament or congress, it undergoes a series of readings and debates before it can be enacted into law.


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Bill Publications

Full text of the Bill as introduced and further versions of the Bill as it is reprinted to incorporate amendments (proposals for change) made during its passage through Parliament.


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