Tax dodgers swindle BURS P9.2bn

BURS frequently raids second hand vehicle dealers who are suspected of major trade misinvoicing the country
BURS frequently raids second hand vehicle dealers who are suspected of major trade misinvoicing the country

Tax evaders, both individuals and companies, used the under-invoicing of imports to divert at least US$885 million away from the Botswana Unified Revenue Service (BURS) in 2015, in one of the world’s highest rates of the particular tax trick, BusinessWeek has learnt.

Known as trade misinvoicing, the trick involves fraudulently manipulating the price, quantity, or quality of a good or service on an invoice submitted to Customs, in order to pay less tax or face a lower tax obligation.

Companies benefiting from tax incentives also inflate their export invoices in order to improperly claim benefits as well from tax authorities.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

Have a Story? Send Us a tip
arrow up