GROW YOUR BUSINESS IN NAMIBIA
Have an enterprise level payroll department and a HRMS with Employee Self-Service at a per employee cost
Praxima Services Includes
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Full Payroll Outsourcing
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Hybrid Payroll Outsource
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International Payment Management
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Local Filing
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Social Security Filing
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Interact with Local Authorities
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Human Resources Management System
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Integration with all Accounting and Third Party
Software
Benefits of outsourcing to Praxima
Local Tax Compliance
Secure Data Transferring
Responsive Administrators
Increase Productivity
Industry Experts
Running Your Payroll
Focus on Your
Core Business
Outsource your Namibian payroll to Praxima
Payroll in Namibia
Namibia makes use of the PAYE system, with which the employer deducts the employee’s tax before salaries are paid over to the employee. Individuals are taxed on any benefit arising from an employment, business income and investment income. Namibia’s currently does not have a separate capital gains tax system, however certain incomes from capital transactions are included in the gross income and becomes subject to income tax.
TAX RATES | 2022
Taxable income in Namibian Dollar (NAD)
NAD Tax Rate
0 - 50,000 0%
50,001 - 100,000 18% of the amount over 50 000
100,001 - 300,000 9 000 + 25% of the amount over 100 000
300,001 - 500,000 59 000 + 28% of the amount over 300 000
500,001 - 800,000 115 000 + 30% of the amount over 500 000
800,001 - 1,500,000 205 500 + 32%of the amount over 800 000
Over 1,500,000 429 000 + 37%of the amount over 1 500 000
SOCIAL SECURITY | 2022
An employer and employee must contribute 0.9% of the employee’s basic salary equally a towards the Social Security Fund with a minimum contribution of N$2.70 and a maximum of N$81.00. A vocational education and training levy at 1% of the annual payroll of each employer that is NAD 1 million or higher is payable by employers.
STATUTORY FILING | 2022
Employees are to file a return by 30 June. Spouses are taxed separately. A penalty of 20% interest per annum is imposed on late payments. However, the interest amount will not exceed the original tax amount. Other penalties may also be imposed for late submissions.
Taxable Income
Individuals are taxed on any benefit arising from employment, as well as on an investment and business income. There are currently no separate capital gains tax system in Namibia, however income received from certain capital transactions will be included in the gross income and therefore subject to income tax.
Tax Residents
The Namibian Income Tax Act does not define a "resident". However, both resident and non-resident individuals will be taxed on any income received from a Namibian, or a deemed Namibian source.
Your HRMS is Standard
Employee Self-service
Payslip and tax certificate retrieval. Updating of personal particulars. Leave request and balance enquiries
Records
Employee documents folder. Training records. Heath & Safety records. Disiplinary records. Qualifications, resume and hiring records.
Work Flow
Workflow with different approval levels. Full work flow functionality for leave requests, expense and time-sheets
PAYMENTS, REPORTING & FILING
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Direct payment into employee bank accounts. Emailed password protected pay slips.
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Payment of taxes, benefit providers and other creditors.
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Filing of returns to the authorities.
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Generation and filing of statutory reports.
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General ledger and 100's of customisable reports.
