BANK Windhoek has introduced a new tax payment functionality on its electronic payments and collections (EpaC) internet banking platform to accommodate the payment of amounts more than N$500 000.
‘With immediate effect, all our customers making use of our EPaC service can use the new tax payment functionality to effect their tax payments to the Receiver of Revenue for any amount not exceeding N$5 million,’ Bank Windhoek communications practitioner Marie Kotze said in a statement on Monday.After a determination by the Bank of Namibia in November 2009, Namibian cheques with an amount above N$500 000 may no longer be issued, nor may any cheque with a value above N$500 000 be deposited at any bank in Namibia as from last June. Many of the bank’s customers were subsequently inconvenienced and experienced difficulties to make payments larger than N$500 000 to the Receiver.’As in the past, all instructions for payments above N$5 million must be submitted in paper form to our branches or treasury department for transfer via the high-value real time gross settlement (RTGS) system,’ she said.A host of tax payment types to the Receiver of Revenue are available, and the EPaC system will prompt clients for the mandatory information required by the beneficiary to allocate the funds to the correct taxpayer account.These include the Income Tax Account Payment, Income Tax Provisional Payment, Employee Tax Account Payment, Employee Tax Period Payment, Value-Added Tax Account Payment, Value-Added Tax Period Payment, VAT import Account Payment, VAT import Period Payment, Withholding Tax Account Payment and Withholding Tax Period Payment. – Nampa
