Namibia Revenue Agency (NamRA) Commissioner Sam Shivute has called for stronger audit systems to ensure mining companies pay their fair share, highlighting that several uranium firms may remain loss-making and exempt from corporate tax until 2031.
Speaking to a parliamentary committee last week, Shivute emphasized the sector’s critical role, contributing 21.3% (N$54.26 billion) to Namibia’s N$254.6 billion GDP in 2024 through taxes, royalties, wages, and procurement.
Despite mining’s economic weight, some companies reported losses, avoiding corporate tax. Namdeb Corporation, with N$5.282 billion in turnover, posted a N$79 million loss, while Trigon Mining Namibia and Sinomine Tsumeb Smelter reported losses of N$425.1 million and N$274 million, respectively. Ongopolo Mining and Rosh Pinah Zinc Corporation also paid no tax despite profits, citing deferred tax and restructuring arrangements.
Gold revenue surged from N$1.6 billion in 2023/24 to N$3.1 billion in 2024/25 due to enhanced transfer pricing audits, bringing all ten gold producers into the tax net. However, diamond revenues fell 49% to N$2.9 billion. Rössing Uranium led corporate tax contributions at N$1.148 billion, followed by B2Gold Otjikoto (N$1.875 billion) and Langer Heinrich (N$841 million). Royalties totaled N$2.1 billion, with Namdeb Holdings contributing N$1.3 billion.
