Africa Links 24 with Shania Lazarus
Published on 2024-08-11 06:00:00
Finance and public enterprises minister Iipumbu Shiimi has tabled a bill that will make it difficult for corporations to evade paying tax.
Shiimi told the parliament on Tuesday some companies avoid paying taxes by carrying forward losses indefinitely and by deducting excessive interest on loans from taxable income.
Interest deductions are tax deductible, allowing a company to subtract its interest expenses on loans, therefore reducing its tax liability.
Shiimi said the amendments…
Read the Full article on The Namibian
