Tax penalties to be waived as part of incentive for ITAS registration

The Ministry of Finance has announced the waiving of tax penalties as part of an incentive for tax payers to register on the Integrated Tax Administration System (Itas) Portal.

Finance Minister, Calle Schlettwein said at a media conference on Thursday, all penalties on tax accounts will automatically be waivered for those who register on the e-filing system and those who have already registered.

'The ministry is introducing an incentive programme in order to encourage taxpayers not only to register as e-filers but also to continually use the online service,' he said.

Schlettwein explained that ITAS was introduced to improve tax returns efficiency, the country's ratings and ease of doing business.

Additionally, having the automated system removes human discretion and expedites the processing of tax returns and taxpayer audit, thereby preventing delays in tax assessments.

He said the ministry is aiming to have 90 per cent of taxpayers registered on ITAS by June 2020.

Source: Namibia Press Agency