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Tax – an overview. Nigel Dixon-Warren. Introduction. Does Botswana need tax? Government revenues* (31/03/09 = P30bn): Income Tax ( incl CTT ) P8bn (26.7\%) VAT P4.25bn (14.2\%) Customs P7.75bn (25.8\%) Mineral royalties & Divs P6.7bn (22.3\%) Divs from parastatals ** P1.4bn (4.7\%)

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tax an overview

Tax – an overview

Nigel Dixon-Warren

introduction
Introduction
  • Does Botswana need tax?
  • Government revenues* (31/03/09 = P30bn):
    • Income Tax (inclCTT) P8bn (26.7%)
    • VAT P4.25bn (14.2%)
    • Customs P7.75bn (25.8%)
    • Mineral royalties & Divs P6.7bn (22.3%)
    • Divs from parastatals** P1.4bn (4.7%)
    • Everybody else P1.9bn (6.3%)

*excludes sales of bonds and treasury bills of P1.95bn

** includes Bank of Botswana P1.3bn

sources of tax revenue
Sources of tax revenue
  • Income Tax including;
    • Withholding Tax (PAYE)
    • Other Withholding Tax
    • Capital Gains Tax
  • Capital Transfer Tax
  • Value Added Tax
  • Customs & Excise (CCU)
but what about
But what about....
  • Alcohol levy
  • Fuel levies
  • Transfer duty
  • Training levy
  • ....any revenue raising legislation which has a provision allowing for transfer to the consolidated fund...
direct taxes
Direct Taxes
  • Income Tax
    • Historically Botswana was source based (as opposed to residence / worldwide based)
    • Current scenario:
      • Companies – worldwide income
      • Individuals (expatriate) – source
      • Individuals (citizens) – worldwide
    • Where to from here...?
    • Challenges (and opportunities) – lack of Board of Adjudicator / High Court Decisions
    • Botswana is a “fertile” country for tax interpretation
indirect taxes
Indirect Taxes
  • VAT commenced in July 2002 – based on “best practice” internationally
  • Classic “input / output” system – resulting in consumer bearing the tax
  • Self assessment system
the future
The future...
  • Anyone in receipt of income must register and submit tax returns;
  • Lifestyle audits;
  • Cross-referencing of information;
  • Simplified tax system?
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