3 months ago

New Era Newspaper Thursday March 8, 2018

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  • Namibia
  • Windhoek
  • Namibian
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  • Oshakati
  • Plastics
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New Era Newspaper Thursday March 8,

Vol. 23 No. 128 Windhoek, Namibia Thursday, March 8 2018 Calle guns for church, charity taxes Budget 2018/19: Winners and Losers Low Earners: Lower bracket tax rate to be reduced from 18 percent to 17 percent. winner All Working People: New taxes to be introduced to raise over N0 million each year from those with meaningful earnings. loser Women & Children: Old age pension increase by N winner SME Owners: N4 million to be transfers to DBN to support SME Financing Strategy winner Drinkers and Smokers: Additional 5 percent national “sin” tax on alcohol and tobacco products, effective 21 February 2018. loser Students: NSFAF receives N,45 billion, Unam receives N0 million and NUST receives N0 million winner Listed Asset Managers: There would be VAT paid on income of Listed Asset Managers loser Civil Servants: The Public Service Medical Aid Scheme (PSEMAS) receive N,5 billion winner Building Contractors: Moratorium on construction of new three years. loser Army: Defence ministry receive N billion, 4,9 percent more than what it got last year winner GRN Travellers: Still no traveling. S&T budget cut to N1,8 million, down from N4,3 million in 2015/16. loser High earners: New tax rates of 39 percent for those earning over N,5 million and 40 percent those earning over N.5 million. loser Inside Today Jacobs gets 27 years for murder of wife Johannes Jacobs, 45, who was convicted of killing his estranged wife by stabbing her 12 times with a knife in her upper body and leaving her to die while he walked away, was sentenced to an effective 27 years behind bars. Page 3 Namibia Plastics launches construction of Nm plant With the Minister of Trade, Tjekero Tweya, as the guest of honour at the construction launch, the 2,660 square metre stateof-the-art manufacturing plant at Brakwater – expected to be completed before the end of this year. Page 9 Desie Heita Windhoek Finance Minister Calle Schlettwein (pictured above) yesterday dropped a bombshell by announcing that plans are afoot to tax income derived from commercial activities by religious, charitable, educational and other types of institutions under Section 16 of the Income Tax Act. This, the minister said, would be converted to normal corporate tax, ending the tax haven John Muyamba Rundu Hundreds of learners at Ndama Combined School in Rundu have had to endure the discomfort of sitting on classrooms and grades, especially for Grades 4 to 9 because the school whose classes are also overcrowded desks. Teachers at the poorly-resourced public school are also said not to have when students are not in attendance to convene staff and other meetings. The school currently has 3,089 learners which has turned into an overwhelming situation as classrooms, chairs and desks are not enough to cater for their demand. According to the school, the directorate of education has enjoyed by particularly churches in Namibia, many of which are run on strict commercial principles. Just recently, a popular Katuturabased church publicly announced that freedom, where attendants of the morning session were charged N0 each. It is this kind of commercial activity that Schlettwein seeks to tax, if his announcement yesterday is anything to go by. “Such institutions will be required overcrowded Rundu school been informed of the situation the directorate has time and again communicated that it is unable to income tax returns,” a stern-faced Schlettwein reported to the National Assembly. Overall, despite hopes over the national budget, reading between the lines shows that the proverbial seven lean years might not just be over for Namibia yet. Treasury presented a reduced budget in total public expenditure at N,4 million. The capital budget has gone up with new funding planned for roads, rail, water and agricultural infrastructure. CALLE on page 2 Resource scarcity… during lessons at Ndama Combined School. Photo: John Muyamba do anything about the situation as within the education ministry. LEARNERS on page 2 Revealed: Spending from Namibia’s emergency fund Desie Heita Windhoek Last year more than 74 percent of the N0 million that was put aside in case of emergencies was used to pay salaries of public enterprises, and the unbudgeted expenses for lawyers and consultants hired by the Attorney General. The money was also spent on appeasing the ‘struggle kids’ and to keep tertiary students from bashing the doors of the Namibia Students Financial Assistance Fund (NSFAF), when the universities opened in January this year. Cuba, a strong ally of Namibia, also received humanitarian assistance from the fund. There was also withdrawal from the account to help pay for the fuel and utilities of the Ministry of Safety and Security. New Era reported last year vehicles had to be grounded due to lack of fuel. FUND on page 2 New Era Newspaper @NewEraNewspaper #NewEraNewspaper

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