Input tax: the do�s, don�t�s and requirements
Friday, August 01, 2014
Input tax is VAT that is charged to, and can be claimed by a registered person when he/she acquires goods and/or services for the advancement of his/her taxable activity. Consequently, persons who are not registered for VAT bear the VAT as a cost, except in special instances such as where goods are exported from Botswana by non-resident persons, including tourists. Such persons can later claim VAT refunds, which technically does not qualify as input tax. Input tax only relates to VAT charged to VAT registrants.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...