VAT relief for farmers

Government has offered some respite to drought-hit farmers by granting value-added tax (VAT) relief to those who import goods, until the drought state of the emergency is lifted.Feed not subject to import VAT include roughage, as well as energy and protein concentrates.These include lucerne, teff grass or other wheat straw, oats straw/hay, maize hay, sorghum hay, and silage. The VAT-exempted energy and protein concentrates include cotton oil cake, sunflower oil cake, maize chop, wheat bran, soya oil cake, full-fat soya, maize meal, whole maize kernels, molasses, wheat, barley, oats, sunflower hulls, whole cotton seed and maize bran.Finance minister Calle Schlettwein said the tax exemption only applies to individual farmers or producers - both communal and commercial - in all regions of the country, who directly import goods for own use and not for the purpose of reselling. Retailers and other entities that import these goods do not qualify for the tax exemption, Schlettwein said.The exemption also does not apply to any capital goods imported. To qualify for the exemption, farmers and producers must provide proof of registration at the Meat Board of Namibia or any other legally recognised registration.The importer must notify the finance ministry at least three days before the goods reach the point of entry, to enable timeous customs' clearance.The relief took effect on Tuesday and automatically lapses when the drought state of emergency ceases. STAFF REPORTER

VAT relief for farmers

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Namibian Sun 2025-04-03

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VAT relief for farmers

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Namibian Sun 2025-04-03

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