Page 37 - Nexia SAB&T Africa Overview 2025
P. 37

Namibia (GMT +2)


      General:
           ▪ Capital City: Windhoek
           ▪ Official Language: English
           ▪ Currency: Namibian Dollar (NAD)
           ▪ Main Exports: Diamonds, uranium, lead, zinc, tin, silver, gold, copper
           ▪ Surface Area: 824.3 sq. km (thousands)
           ▪ Population: 3,030 million (2025,est)
      Key Economic Indicators:
           ▪ GDP: $12,8 billion (2023) / GDP Growth Rate: 2.6% (2024)
           ▪ CPI Inflation Rate (annual): 3.8% (2025)
           ▪ Sovereign Credit Ratings: Moody’s: B1, S&P: Not rated, Fitch: BB (High Credit Risk)
           ▪ Indicator of Economic Freedom Score: 58.7/100 (2025): Mostly Unfree
      Exchange Controls:
           ▪ Exist
      Basis of Taxation: (Tax Year End: 28 February)
           ▪ Residents: Namibian-source income
           ▪ Non-residents: Namibian-source income
      Tax Rates:
           ▪ Individuals: Progressive rates to 37%
           ▪ Companies: 31%
           ▪ Inheritance and Donations Taxes: N/A
           ▪ VAT: 15%
           ▪ Withholding Tax: Varying rates apply
           ▪ Capital Gains Tax (CGT): Currently not taxable
           ▪ Double Taxation Agreements: In place with several countries
      Useful links:
           ▪ Namibia Ministry of Finance and Public Enterprises   https://mof.gov.na
           ▪ Bank of Namibia             https://www.bon.com.na


                              35
   32   33   34   35   36   37   38   39   40   41   42