Category: Botswana
Kenya, Botswana inks 3 pacts to shore up bilateral ties
NAIROBI, July 23 (Xinhua) — Kenya and Botswana on Tuesday signed three key agreements to help deepen bilateral ties between the two African countries. The agreements, which cover bilateral trade, air transport and ICT, were signed at the end of talks held between visiting Botswana president Mokgweetsi Masisi and his… – Continue reading
Botswana joins OECD inclusive framework
The Organisation for Economic Co-operation and Development (OECD) announced on Tuesday that Botswana has joined the Inclusive Framework on base erosion profit shifting (BEPS) becoming the framework’s 99th member.The Inclusive Framework on BEPS is a group of countries that have pledged to implement measures designed by OECD and G20 countries… – Continue reading
Tax avoidance schemes on the rise – BURS
The Botswana Unified Revenue Service (BURS) says tax avoidance schemes such as transfer pricing, base erosion and profit shifting appear to be on the rise in the country. Transfer pricing is regarded as a tax avoidance scheme in which multinational corporations shift profits to low tax jurisdictions and avoid taxes… – Continue reading
Kenya to lend its tax expertise to Botswana after historic deal
The Kenya Revenue Authority has signed an international memorandum of understanding on tax collaboration with Botswana, to provide administration assistance from next year. Tax officials from Kenya and Botswana on Thursday agreed to the assistance project that marks the first South-South cooperation pact under the Tax Inspectors Without Borders programme… – Continue reading
Botswana, Malawi sign double taxation pact
Botswana and Malawi have signed an Agreement for the Avoidance of Double Taxation that aims to facilitate closer cooperation tax issues and allow for the exchange of information between their revenue authorities.Speaking at the signing ceremony on Wednesday, Botswana’s Finance Minister Kenneth Matambo said it was also pleasing that the… – Continue reading
BOTSWANA, African tax haven?
About Botswana Botswana, a former British colony in Southern Africa, is one of the most prominent countries in Africa. The country has a strong economy,uses one of the most advanced banking systems in the continent, and maintains a stable tradition of representative democracy. After becoming independent in 1966, Botswana developed… – Continue reading
ATAF pushes for scrapping of double taxation
THE African Tax Administration Forum (ATAF) has come up with a draft document on avoidance of double taxation and prevention of fiscal evasion within the continent. The Zimbabwe Revenue Authority (Zimra), a member of ATAF, has said avoidance of taxation and prevention of fiscal evasion was with respect to taxes… – Continue reading
Panama thumbs its nose at transparency – again
We have on several occasions fingered Panama as a particularly recalcitrant secrecy jurisdiction: our recent Panama Narrative Report spills a fair number of beans in that respect. Its recalcitrance is perhaps hardly surprising, given the quantity of Colombian and Mexican drugs money believed to be sheltered there – to name… – Continue reading
Wilderness Safaris secretly stashing millions in tax havens?
A lengthy and yet complex investigation by The Botswana Gazette into financial affairs of the company in the shady tax haven of Bermuda blows the lid off the dealings amounting to P29 million with a mailbox sister company that has no office, employees or any legitimate business activities. Not only… – Continue reading
EAC STATES ADOPT NEW MEASURES TO CURB TAX LOSS
Multinationals operating in Kenya, Tanzania and Uganda will be among the first in Africa to feel the impact of new measures to be adopted in January to curb tax losses caused by manipulation of contracts between related companies. The three countries together with Nigeria, Ghana, Burkina Faso, Senegal, Botswana and… – Continue reading
Kingdom Bank liquidation hits snag
THE liquidation of Kingdom Bank Africa Limited (KBAL) Botswana has been derailed after creditors declined to give the liquidator, Max Marinelli, autonomous authority to sell the assets of the defunct offshore bank. KBAL depositors and debtors are predominantly in Zimbabwe where the bank originates. In a seven-hour long heated meeting… – Continue reading
Botswana: Bank Offers New Investment Product
Gaborone — Clients of Standard Chartered Bank Botswana should brace themselves for exciting times with the launch of the offshore fixed income proposition under its wealth management portfolio. Speaking at a breakfast launch with clients and media, the head of wealth management for Botswana and Southern Africa at Standard Chartered… – Continue reading
Botswana: Govt, Mauritius Sign Tax Agreement
Gaborone — Botswana and Mauritius on Saturday August 15 signed a Double Taxation Avoidance Agreement, renewing a convention the two countries have had since 1995. Minister of Finance and Development Planning, Mr Kenneth Matambo represented Botswana while Mauritius’ Minister of Foreign Affairs, Regional Integration and International Trade, Mr Marie Joseph… – Continue reading
I call that robbery': Rich-poor tax dispute overshadows key UN development summit in Ethiopia
Tax avoidance by big companies costs Africa tens of billions of dollars in revenue every year, continent’s leaders say at big meeting in Addis. AS the world grapples to find the cash to end poverty and battle climate change, African leaders at a global development summit being held in Ethiopia… – Continue reading
Govt to add more and raise taxes
AMidst the continued decline in the country’s Southern African Customs Union (SACU) receipts, government has decided to enhance domestic revenue which will see the introduction of new taxes and a possibility of increasing some. Minister of Finance Martin Dlamini speaking during breakfast meeting hosted by the Federation of Swaziland Employers… – Continue reading
BoB takes over Kingdom bank
The Bank of Botswana (BoB) on Friday took over management of troubled offshore bank, Kingdom Bank Africa Limited (KBAL). The bank is reeling from liquidity constraints, which have seen depositors fail to withdraw their monies while workers haven’t received regular salaries for the past three months. In a statement released… – Continue reading
Govt eyes more tax holiday deals
FRANCISTOWN: Government’s negotiations with other countries to sign Double Taxation Avoidance Agreements (DTAA) are underway to ensure investor benefits from tax holiday incentives continue, Boniface Mphetlhe of Ministry of Trade and Industry (MTI) has said. The Deputy Permanent Secretary in MTI, Mphetlhe, was speaking on the topic of Botswana Investment… – Continue reading
Botswana, Ireland sign double taxation agreement
Botswana and Ireland have signed an agreement on double taxation avoidance to enable free tax income flowing between the two countries.Speaking at the signing agreement in Gaborone on Wednesday, finance and development planning minister, Kenneth Matambo said the agreement was a commendable move because it was only when there was… – Continue reading
Ireland signs double taxation agreement with Botswana
Ireland’s new double trade taxation agreement with Botswana is expected to boost two-way trade and investment between the two countries, which last year was worth almost €3.5m. The agreement was signed yesterday by Minister for Trade and Development Joe Costello and Botswana’s Minister of Finance and Development Planning Kenneth Matambo…. – Continue reading
