Are you an expat working in Namibia? If so, you’re probably wondering how much commission you’ll be taxed on. Here’s a quick rundown of the Namibian tax system and how it applies to commission income.
In Namibia, there are two types of taxes: income tax and value-added tax (VAT). Income tax is levied on all forms of income, including wages, salaries, interest, dividends, and capital gains. VAT is levied on the sale of goods and services.
Commission is considered to be income, so it is subject to income tax. The tax rate depends on the amount of commission earned. For example, if you earn less than N$12,000 per year, you’ll be taxed at a rate of 10%. If you earn between N$12,000 and N$24,000, you’ll be taxed at a rate of 15%. And if you earn more than N$24,000, you’ll be taxed at a rate of 20%.
Keep in mind that these are just the basic tax rates. You may also be subject to additional taxes, depending on your circumstances. For example, if you’re self-employed, you’ll be required
The Income Tax Rates in Namibia
Namibia has a progressive income tax system, with rates ranging from 0% to 32%. The tax on commissions is calculated at a flat rate of 10%. However, there are a number of deductions and allowances that can be applied to reduce the amount of tax payable. For example, taxpayers can claim a deduction for medical expenses, pension contributions and interest payments.