Namibia

{"ftc_utility":"high","fbar_trigger_notes":"Expats working in Namibia will generally need a local bank account (Namibian dollars, NAD) to receive salary. Any account with a balance exceeding USD 10,000 at any point triggers FBAR filing requirements on FinCEN Form 114. Namibian banks include Standard Bank Namibia, First National Bank Namibia, and Bank Windhoek.","ftc_utility_reason":"Namibia taxes worldwide income of residents at rates up to 37%. US expats earning Namibian-source income will pay substantial Namibian income tax, generating significant foreign tax credits that can offset US tax liability on the same income. FEIE and FTC cannot both apply to the same income, so higher earners generally benefit more from FTC than FEIE.","presence_day_count_notes":"Namibia does not impose strict short-stay visa limits that would prevent 330-day presence. Work permit holders and long-stay visa holders can typically satisfy the 330-day physical presence test. However, visitors must obtain appropriate work authorization - tourist visa holders are not permitted to work, which could complicate bona fide residence claims.","typical_qualifying_method":"either","housing_exclusion_available":true,"physical_presence_test_applies":true,"estimated_housing_exclusion_usd":16000,"local_tax_rate_on_earned_income":0.37,"bona_fide_residence_test_applies":true}

{"pension_income":{"notes":"Foreign pension income received by Namibian tax residents is included in gross income and taxed at progressive rates up to 37%. Namibian-source pension income is also taxable. A deduction for contributions to approved pension funds is available up to NAD 40,000 per year during the accumulation phase.","tax_rate":0.37,"locally_taxed":true},"social_security":{"notes":"No US-Namibia tax treaty or totalization agreement exists. US Social Security benefits received by a Namibian resident are treated as foreign pension income and are taxable in Namibia at progressive rates. No bilateral relief mechanism applies.","locally_taxed":true,"treaty_protection":false},"roth_distributions":{"notes":"No tax treaty exists, so Namibia does not formally recognize the Roth IRA structure. However, since Roth distributions are not taxable in the US and represent a return of after-tax capital plus exempt growth under US rules, Namibia would generally only tax any amounts characterized as income under Namibian rules. In practice, qualified Roth distributions are unlikely to trigger Namibian tax, but there is no formal statutory exemption. Individuals should seek local tax advice.","locally_taxed":false},"us_401k_ira_distributions":{"notes":"No tax treaty exists between the US and Namibia. Distributions from US 401(k) and IRA accounts received by a Namibian tax resident are treated as foreign-source income and included in taxable income, subject to progressive rates up to 37%. Double taxation relief may be available via unilateral foreign tax credit for US taxes paid.","tax_rate":0.37,"locally_taxed":true,"treaty_protection":false}}

{"rate":0.37,"notes":"Namibia has no separate capital gains tax. Gains are included in taxable income and taxed at standard progressive rates, with the top marginal rate at 37%.","details":{"tax_type":"Capital Gains Tax","country_name":"Namibia","country_iso_code":"NAM","source_references":["Namibia Income Tax Act No. 24 of 1981 (as amended)","PwC Worldwide Tax Summaries - Namibia","Grant Thornton Namibia"],"last_verified_date":"2026-06-03","general_description":"No standalone capital gains tax exists in Namibia. Capital gains on the disposal of assets are treated as ordinary income and subject to progressive personal income tax rates up to 37%. Certain asset disposals may qualify for special treatment under the Income Tax Act, but the general rule is inclusion in gross income.","corporate_capital_gains":{"rate":0.32,"tax_treatment":"Included in corporate taxable income. Standard corporate income tax rate is 32% for most companies. Mining companies face higher effective rates."},"individual_capital_gains":{"rate":0.37,"tax_treatment":"Included in individual taxable income and taxed at progressive rates up to 37%. No preferential rate or annual exemption applies."}}}

{"notes":"Dividends paid by Namibian companies to non-resident individuals are subject to Non-Resident Shareholders Tax (NRST) at 10% where the recipient holds 25% or more of the company shares, or 20% otherwise. Dividends to resident individuals are generally exempt from income tax as they have already been taxed at the corporate level. No withholding tax applies on dividends paid to Namibian resident shareholders.","rates":[{"rate":0.1,"type":"withholding","notes":"NRST rate for non-resident shareholders holding 25% or more of the company."},{"rate":0.2,"type":"withholding","notes":"NRST rate for non-resident shareholders holding less than 25% of the company."},{"rate":0,"type":"exempt","notes":"Dividends received by Namibian tax residents from Namibian companies are exempt from income tax in the hands of the recipient."}]}