Namibia's Ministry of Finance mandates immediate reimbursement for excessive PAYE tax deductions due to new tax rates.
The Namibian Ministry of Finance requires employers to reimburse employees for any excessive Pay As You Earn (PAYE) tax deductions due to new tax rates. Reimbursements must occur immediately after the rates are officially announced. This adjustment ensures that total deductions for the 2024/25 assessment year align with the Income Tax Act. Employees who changed jobs or whose tax deductions are insufficient must claim refunds when filing their 2025 tax returns by June 30, 2025.
September 14, 2024
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