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NamRA Levies and Duties in Namibia

NamRA, short for Namibian Revenue Agency, is responsible for the administration and collection of various levies and duties in Namibia. These levies and duties in Namibia are crucial in generating revenue for the government and ensuring the smooth functioning of the country’s financial system. In this article, we will delve into two key levies: Stamp Duty and Transfer Duty.

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Stamp Duty in Namibia

Stamp Duty in Namibia is a tax imposed on certain legal instruments in Namibia. These instruments include:

• Antenuptial or postnuptial contracts
• High purchase agreements
• Lease agreements
• Mortgage bonds
• Power of Attorney

It’s important to note that this is not an exhaustive list, and you can refer to schedule 1 of the Stamp Duty Act for a full list of instruments subject to stamp duty in Namibia.

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Exemptions

Certain instruments are exempt from stamp duty. These exemptions include:

• Instruments for which the duty would be payable by the government, regional council, municipal council, or town council
• Instruments in connection with criminal proceedings
• Instruments on behalf of charitable or educational institutions of a public character that are exempt from income tax

For a comprehensive list of exemptions, please refer to section 4 of the Stamp Duty Act.

Stamp Duty Rates on Transfer Deed

When it comes to transfer deeds, the stamp duty rates in Namibia are as follows:

• Up to N$1000,000: Exempt from stamp duty in Namibia
• Above N$1000,000: N$10 for every N$1,000 or part thereof is payable

It’s worth mentioning that stamp duty is also applicable to lease agreements involving immovable property, regardless of whether other assets are included. However, no transfer duty is chargeable in respect of such lease agreements.