John and Jane Doe formed a partnership and trades under the name J&J Doe Enterprises. The partnership agreement provides for the following: Salaries of N$200 000 each per annum; Interest on capital accounts at 12% per annum; Interest on drawings at 15% per ...
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VAT on Imported Services returns in Namibia are due
A “person” as defined in the Income Tax Act of Namibia can be classified as either:
One of the reasons why governments charge a “person” taxes is so that they can create favorable living standards for all the citizens of a country. One such favourable standard is:
FunTaxit (Pty) Ltd is an accounting and tax consulting company operated from the private residence of Chris Luhe, the sole shareholder of the company. He has converted a granny flat, located on the same stand as his private residence, into ...
The following information relates to Ben Apple, the administrative officer and accountant for the partnership: Taxable income from employment N$200 000 Income from sales of woodwork N$50 000 PAYE deducted from employment income N$27 000 Required: 1. Calculate the correct amount ...
Sarah Davis, 55-year—old Namibian citizen had become an employee of ”First for Women” Insurance on 1St February 2016. Her receipts and accruals for the 2017 year of assessment include: A monthly salary of N$20 000. Annual bonus payable in December, N$20 000 Sales ...
Belinda is employed at B. Books. She receives an annual salary of N$35 000, B. Books also provide a 4 room house in Windhoek. The employer deducts N$300 from her salary as rent payable. You are required to calculate the taxable ...
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Tree Hugger has been farming in the Gobabis region for the past 5 years. He provided you with the his stock reconciliation for 2017Sales for the year took place at the market value. Additional ...