Related documents
Transfer Duty Act, 1993
Act 14 of 1993
- Published in Government Gazette 697 on 25 August 1993
- Assented to on 12 August 1993
- There are multiple commencements
- [This is the version of this document from 1 October 2024 and includes any amendments published up to 11 October 2024.]
Provisions | Status |
---|---|
Section 1–23 | commenced on 1 September 1993 by Government Notice 96 of 1993. |
Section 2(1)(a)(v) | commenced on 1 October 2024. |
- [Amended by Transfer Duty Amendment Act, 2003 (Act 20 of 2003) on 1 January 2004]
- [Amended by Transfer Duty Amendment Act, 2010 (Act 3 of 2010) on 29 May 2010]
- [Amended by Transfer Duty Amendment Act, 2010 (Act 8 of 2010) on 1 June 2010]
- [Amended by Transfer Duty Amendment Act, 2013 (Act 6 of 2013) on 1 June 2013]
- [Amended by Transfer Duty Amendment Act, 2024 (Government Notice 6 of 2024) on 1 October 2024]
1. Definitions
In this Act, unless the context otherwise indicates -“date of acquisition” means -(a)in the case of the acquisition of property by way of a transaction, the date on which the transaction was entered into, irrespective of whether the transaction was conditional or not or was entered into on behalf of a company already registered or still to be registered; and(b)in the case of the acquisition of property otherwise than by way of a transaction, the date upon which the person who so acquired the property became entitled thereto:Provided that where property has been acquired by the exercise of an option to purchase or a right of pre-emption, the date of acquisition shall be the date upon which the option or right of pre-emption was exercised;“declared value” in relation to property means the value of the property as declared in the declaration completed in terms of section 14 by the person who has acquired the property;“deeds registry” includes -(a)the deeds registry established by section 2 of the Registration of Deeds in Rehoboth Act, 1976 (Act 93 of 1976);(b)the office of the mining commissioner in relation to transactions required to be registered in the claims register referred to in section 29(1) of the Mines, Works and Minerals Ordinance, 1968 (Ordinance 20 of 1968); and(c)the Mining Titles Office established by section 1 of Proclamation R.90 of 1969 in relation to transactions required to be registered in a register kept at that office in terms of the provisions of the Mines, Works and Minerals Ordinance, 1968;“Executive Director” means the Executive Director of the ministry responsible for finance;[definition of “Executive Director” inserted by section 2(a) of Government Notice 6 of 2024]“fair value”, in relation to property, means the market value of that property as at the date of acquisition thereof, but where property has been acquired by the exercise of an option to purchase or a right of pre-emption, the fair value in relation to that property shall be the market value thereof as at the date upon which the option or right of pre-emption was acquired by the person who exercised the option or right of pre-emption;“High Court” means the High Court of Namibia;“local authority council” means a municipal council, town council or village council as defined in section 1 of the Local Authorities Act, 1992 (Act 23 of 1992);“Permanent Secretary” [definition of "Permanent Secretary" deleted by section 2(b) of Government Notice 6 of 2024]“property” means land and any fixtures thereon, and includes -(a)any real right in land, but not any right under a mortgage bond or a lease of property other than a lease referred to in paragraph (b);(b)any right to mine for minerals and a lease or sub-lease of such a right; or(c)a share in a company, member’s interest in a close corporation or a trust, that owns a residential property;[definition of "property" substituted by section 2(c) of Government Notice 6 of 2024][The word “sublease” is spelt with a hyphen in the definition of “property”, but appears without a hyphen elsewhere in the Act.]“registration officer” means the person who is in charge of a deeds registry;“residential property” means -(a)any dwelling house, holiday home, apartment or similar abode; or(b)an improved or unimproved land zoned for residential use in Namibia,including any real right thereto, other than an apartment complex, hotel, guesthouse or similar structure consisting of five or more units held by a person which is being rented to five or more persons who, in relation to that person, are connected persons as defined in the Income Tax Act, 1981 (Act No. 24 of 1981);[definition of “residential property” inserted by section 2(d) of Government Notice 6 of 2024]“the duty” means the duty leviable in terms of section 2;“transaction”, in relation to any shares, member’s interest or a trust property referred to in paragraph (c) of the definition of "property", means -(a)an agreement whereby one party thereto agrees to sell, grant, waive, donate, cede, exchange, issue, buy-back, convert, vary, cancel or otherwise dispose of any such shares, member’s interest or trust property to another person; or(b)any act whereby any person renounces any right in or restriction his or her favour upon the use or disposal of any such shares, member’s interest or trust property;[definition of “transaction” substituted by section 2(e) of Government Notice 6 of 2024]“value”, in relation to property, means the value thereof as determined in accordance with the provisions of sections 5, 6, 7 and 8.2. Imposition of transfer duty
3. Payment of duty
4. Penalty on late payments of duty
5. Value of property on which duty is payable
6. Certain payments to be added to the consideration payable in respect of property
There shall for the purpose of the payment of the duty be added to the consideration payable in respect of the acquisition of any property -7. Certain payments excluded from the considertion payable in respect of property
[The word “consideration” is misspelt in the Government Gazette, as reproduced above.]There shall for the purpose of the payment of the duty be excluded from the consideration payable in respect of the acquisition of any property -8. Valuation of consideration payable by way of rent, royalty, share of profits or any other periodical payment, or otherwise than in cash
Where the whole or any part of the consideration in respect of the acquisition of any property, including any commission, fees or consideration referred to in section 6 which is to be added in terms of that section, is payable by way of rent, royalty, share of profits or any other periodical payment, or otherwise than in cash, the value of the consideration so payable shall, for the purpose of the payment of the duty, be -9. Exemptions from duty
10. Administration of Act
11. Powers of Executive Director
12. Registration of acquisition of property where duty not paid
13. Executive Director to recover amount of duty underpaid
14. Declarations to be furnished to Executive Director
15. Records of certain sales of property to be kept
16. Disclosure of names of principals
17. Penalties
18. Appeals against decisions of Executive Director
19. Hearing by judge in chambers of disputes regarding exemptions from duty
Any dispute between the Executive Director and any person who claims to be exempt from payment of the duty in respect of the acquisition of property may, on application by either party to the dispute, be determined by a judge of the High Court sitting in chambers after hearing the Executive Director and such person or their respective representatives.20. Refunds
If it is proved to the satisfaction of the Executive Director that the duty has been paid in respect of an acquisition of property by a person who is or has become, in terms of this Act or any other law in force on the date of the acquisition, exempt from the payment of the duty in respect of that acquisition, or that the amount which has been paid is in excess of the duty payable, the Executive Director may authorize a refund of the duty paid or of so much of the duty as has been overpaid, as the case may be.21. Payment of duty in respect of acquisition of property registrable in terms of Registration of Deeds in Rehoboth Act, 1976
The provisions of this Act shall in respect of the acquisition of property of which the acquisition is registrable in terms of the Registration of Deeds in Rehoboth Act, 1976 (Act 93 of 1976), only apply if the date of acquisition falls on or after the date of commencement of this Act.22. Repeal of laws and savings
23. Short title and commencement
This Act shall be called the Transfer Duty Act, 1993 and shall come into operation on a date to be determined by the Minister of Finance by notice in the Gazette.History of this document
01 October 2024 this version
Amended by
Transfer Duty Amendment Act, 2024
Commenced
01 June 2013
01 June 2010
Amended by
Transfer Duty Amendment Act, 2010
29 May 2010
Amended by
Transfer Duty Amendment Act, 2010
01 January 2004
Amended by
Transfer Duty Amendment Act, 2003
01 September 1993
Commenced by
Commencement of the Transfer Duty Act, 1993
25 August 1993
12 August 1993
Assented to
Cited documents 8
Act 8
1. | Local Authorities Act, 1992 | 1329 citations |
2. | Regional Councils Act, 1992 | 390 citations |
3. | Income Tax Act, 1981 | 244 citations |
4. | Registration of Deeds in Rehoboth Act, 1976 | 54 citations |
5. | Agricultural Bank of Namibia Act 5 of 2003 | 33 citations |
6. | Sale of Land on Instalments Act, 1971 | 13 citations |
7. | Abattoir Industry Act, 1976 | 7 citations |
8. | Finance Act, 1959 | 4 citations |
Documents citing this one 40
Gazette 21
Judgment 10
Act 7
1. | Export Processing Zones Act, 1995 | 21 citations |
2. | National Housing Development Act, 2000 | 19 citations |
3. | Banking Institutions Act, 2023 | 18 citations |
4. | Walvis Bay and Off-shore Islands Act, 1994 | 14 citations |
5. | Namibia Revenue Agency Act, 2017 | 11 citations |
6. | Deeds Registries Act, 2015 | 9 citations |
7. | Trust Fund for Regional Development and Equity Provisions Act, 2000 | 8 citations |
Government Notice 2
1. | Deeds Registries Regulations, 1996 | 1 citation |
2. | Sectional Titles Regulations, 2014 |
Subsidiary legislation
Title
|
Date
|
|
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Transfer Duty Amendment Act, 2024: Commencement | Government Notice 280 of 2024 | 1 October 2024 |