5% of the value above N$800,000 to N$1,500,000;
8% of the value exceeding N$1,500,000.
Natural persons benefiting under the Affirmative Action Loan Scheme for purchases of farmland will pay transfer duty as follows once the Transfer Duty Act has been amended to give effect to the announcements made by the Minister of Finance during her Annual Budget Speech, 2009:
• The exemption threshold will be N$500,000;
1% of the value above N$500,000 to N$1,000,000;
1% of the value exceeding N$100,000;
N$1,000 plus 3% of the value exceeding N$200,000.
Transfer duty rates in terms of the Transfer Duty Act on property purchases by individuals will be amended in line with the Minister of Finance Annual Budget Speech, 2009 as follows:
The exemption threshold will be increased to N$400,000 (from the current N$100,000);
1% of the value above N$400,000 to N$800,000;
Contact details – PricewaterhouseCoopers, Namibia
PwC Contact person
Patty Karuaihe-Martin Chantell Husselmann Denis Hyman
Tax Director Associate Director Manager
PO Box 1571 Windhoek Namibia
Tel: +264 61 284 1012 Fax: +264 61 284 1512
3% of the value above
The current transfer duty rate for companies, close corporations and trusts will be increased from 8% to 12%, once the Transfer Duty Act has been amended.
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