Namibia's 2025/26 mid-year budget review proposes reducing the corporate tax rate to 28% for non-mining companies while introducing a 20% corporate tax rate for small and medium enterprises and special economic zones.

The proposals include allowing mining rehabilitation deductions and implementing taxation of dividends from preference shares. A new 10% dividend withholding tax for individuals would be introduced alongside adjustments to retirement and housing benefits.

The budget review grants the Namibia Revenue Agency power to freeze accounts of defaulting taxpayers and provides SME exemptions from obtaining clearing agents for certain imports. These measures form part of Namibia's broader tax reform initiatives to support business development while enhancing revenue collection capabilities.