Employers will have to refund employees for any over deduction of Pay As You Earn (PAYE) after the new tax rates are made a law.
In a statement issued on Saturday, minister of Finance and Public Enterprises Iipumbi Shiimi said it is the responsibility of employers to reimburse employees.
“The employer will deduct the reimbursed PAYE from the monthly employee’s tax amount to be paid to the Namibia Revenue Agency (Namra),” said Shiimi.
According to Shiimi, this is to ensure that the total tax paid by employees is equal to what they should pay in the 2024/25 financial year according to the adjusted tax tables.
The new tax brackets came into effect on 1 March. However, a law is yet to be gazetted.
Additionally, those who have changed employment will have to claim a tax refund from Namra next year.
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