The Government Institutions Pension Fund (GIPF) has announced that it will be paying back money to its tax paying and qualifying pensioners, spousal and child beneficiaries.
The Fund will make the tax payment relief refunds on 28 November 2024 in accordance with the Income Tax Amendment Act, 2024 and the Government Gazette (No. 8442, 16 September 2024) effective 1 March 2024.
GIPF’s Chief Executive Officer Mr Martin Inkumbi said that his team is diligently working around the clock to adjust the Fund’s payment processes to effect the tax refunds in an efficient and speedy manner.
“I am elated that our members can now breathe a sigh of relief as all individual taxpayers will be exempted from paying tax on the first N$100 000.00 of their income, however we ask for patience as the Fund finalises the payment logistics,” Inkumbi said.
In the photo: GIPF’s CEO Martin Inkumbi.
