Namibian tax authorities crack down on tax evasion in fishing industry

WINDHOEK, July 25 (Xinhua) — The Namibia Revenue Agency (NamRA) is stepping up efforts to combat tax evasion in the fishing industry, agency spokesman Yarukeekuro Ndorokaze said in a statement on Thursday.

Ndorokaze said NamRA had implemented targeted actions to curb revenue leakage and hold tax violators accountable. He stressed that the fishing industry had historically been a minimal source of state revenue, with significant amounts paid to directors and other key members often going undeclared and untaxed.

“Ongoing investigations focus, among other things, on the sale of fishing quotas by rights holders. In addition, the analysis concerns beneficial ownership and related party transactions regarding the ownership of vessels and the export of products,” he said.

From May 1 to July 19, NamRA issued administrative summonses and raised tax assessments to determine the tax liabilities of the individuals involved. Commercial banks and other third parties were then appointed to pay funds to cover the tax debts incurred by the identified taxpayers.

Ndorokaze said the initiative had already recovered 20 million Namibian dollars (about 1.1 million U.S. dollars) from 14 fishing companies.

“NamRA is cooperating with other law enforcement agencies, particularly the Namibian Police, the Attorney General’s Office and the Financial Intelligence Centre, to conduct parallel financial investigations,” he said.

Ndorokaze emphasised NamRA’s commitment to expanding enforcement capabilities to improve tax compliance.

“We call on all taxpayers to voluntarily comply with tax rules,” he said, noting that targeted actions would continue in various sectors of the economy.