The Government Institutions Pension Fund (GIPF) has informed its taxpaying and qualifying pensioners as well as spousal and child beneficiaries that the fund will make tax payment relief refunds on 28 November 2024. 

This is in accordance with the Income Tax Amendment Act, 2024 and the Government Gazette (No. 8442, 16 September 2024), effective 1 March 2024. 

In a statement, GIPF noted that its team is diligently working around the clock to adjust the fund’s payment processes to affect 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 of their income. However, we ask for patience as the fund finalises the payment logistics,” said Martin Inkumbi, GIPF CEO and principal officer.