Namibia: Land tax could hamper property market

The Namibian Economic Policy and Research Unit (Nepru) has warned that the newly-introduced tax on farmland could have an unforeseen and long-lasting impact on the property market. Nepru says in its quarterly economic review that the land tax has two primary aims: raising funds for land redistribution and discouraging foreign ownership and multiple ownership of farms. A closer look at the concept showed that the implementation of the tax could place farmers in a tight corner, prompting them to do away with less profitable farming operations.