Income tax returns extended to March next year

The Ministry of Finance has announced that the deadline for submitting annual individual income tax returns which was initially extended to 30 September 2020, has been further extended to 01 March 2021.

A media statement issued on Wednesday by the ministry’s Chief Public Relations Officer, Tonateni Shidhudhu, said the extension is necessary to allow more time to employers who did not submit their employee tax returns on the Integrated Tax Administration System (ITAS) portal.

He said online submission on the employee tax returns excel sheet is a prerequisite before annual individual tax returns are validated against the information submitted by the employers. Hence the assessments for employees can only be finalised provided their respective employers have submitted the employee tax returns excel spreadsheet.

“The Ministry of Finance is therefore urging all employers who did not yet submit their monthly detailed employee tax returns for the period from March 2019 to February 2020 to do so, by uploading the designed Microsoft excel template or capturing employees’ detailed information online. Employers should also ensure that tax certificates are an exact reflection of their monthly employee tax return submissions for the particular tax year, for the purpose of accurate filing and reporting,” said Shidhudhu.

He added that the public should note that the extension is only for the filing of returns but not for payment of tax which might be due by 30 September 2020, or any other date after end of September 2020. Therefore, taxpayers are further informed that the online penalty waiving incentive programme is also extended to 01 March 2021.

“Requirements to qualify for this incentive are the same as announced previously; taxpayer must register on ITAS portal as an e-filer, update all due tax returns on all tax types through online submission. Once the taxpayer has done so, penalties charged on any of the tax account will automatically be waived. The taxpayer does not need to make any form of application to have the penalties waived,” explained Shidhudhu.

He encouraged taxpayers to make use of the online penalty waiving incentive programme as there will be no further extension to be granted after 01 March 2021.

Source: Namibia Press Agency