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National Petroleum Corporation of Namibia (Namcor) acting managing director Shiwana Ndeunyema has blamed the company’s N$700 million financial loss on significant breach of internal controls, governance systems and market volatility.
Shiimi: EU delisting good for investment
2021-03-01
Finance minister Iipumbu Shiimi has welcomed a decision by the European Union to delist Namibia as one of the countries regarded as tax havens due to lax practices and regulations on tax governance.
Namibia was removed from the list after successfully implementing reforms to bring the country’s tax systems up to the required EU standard.
Shiimi at the weekend told New Era Namibia has worked hard to be removed from the EU’s blacklist of 17 countries classified as tax havens. Namibia, blacklisted by the EU trading bloc in December last year for tax regulations and practices not deemed to be in line with EU standards, was one of six countries that remained on the blacklist and was the only sub-Saharan African country to be listed.