Informal Sector Tax and State Lottery on the Cards
“We will improve tax collection, through operationalizing the independent revenue authority in 2016 and by broadening the tax base to include the informal sector and investigate the establishment of a State Lottery”, said Hon. President Hage Geingob when he delivered the State of the Nation Address (SONA) during which he launched the Harambee Prosperity Plan.
President Geingob said the objective of the State Lottery will be to supplement State revenue and ring-fence income for poverty eradication and social developmental programmes. He stated that Revenue collected through the State Lottery will be strictly directed to poverty eradication activities under the supervision of a Special Tax Committee.
Winning proceeds will be paid out to beneficiaries as a ratio of compulsory investment in housing or pension while a portion of the proceeds will be paid in cash.
Spotlight news this week focusses on the announcement made by Honourable President Hage Geingob at SONA about Informal sector tax and the establishment of a State Lottery.