The Namibia Revenue Agency (NamRA) is stepping up its efforts to combat tax evasion within the country’s fishing industry, according to a statement released by the agency’s spokesperson, Yarukeekuro Ndorokaze, on Thursday.
NamRA has introduced a series of targeted measures to address revenue leakage and hold tax offenders accountable. Ndorokaze highlighted that the fishing sector has historically contributed minimally to the national treasury. This is due, in part, to significant sums paid to directors and other key figures often remaining undeclared and untaxed.
“The current investigations are centred on the sale of fishing quotas by rights holders, among other issues. We are also scrutinising beneficial ownership and transactions involving related entities, particularly concerning vessel ownership and the export of products,” Ndorokaze explained.
Between May 1 and July 19, NamRA has issued administrative summonses and raised tax assessments to determine the tax liabilities of those implicated. As a result, commercial banks and other third parties have been instructed to settle tax debts on behalf of identified taxpayers.
Ndorokaze revealed that the initiative has successfully recovered 20 million Namibia dollars (approximately 1.1 million U.S. dollars) from 14 fishing companies thus far.
The agency is working in conjunction with other law enforcement bodies, including the Namibian Police, the Office of the Prosecutor General, and the Financial Intelligence Centre, to conduct parallel financial investigations.
NamRA has underscored its commitment to bolstering enforcement capabilities to improve compliance with tax regulations.
“We urge all taxpayers to comply voluntarily with tax laws,” Ndorokaze said, indicating that focused efforts will continue across various sectors of the economy.
