Interest limitation kicks in

Friday, December 13, 2019

Buck stops here: The BURS plans to tighten collections in 2020

Some businesses can afford to have an early Christmas following the pronouncement by the Minister of Finance & Economic Development that micro, small or medium enterprises (SMMEs) and Variable Rate Loan Stock Companies (VRLSCs) will not have their interest expenses limited for tax purposes, effective July 1, 2019.

The pronouncement was made through a new piece of legislation cited as Statutory Instrument 58 of 2019 which was gazetted on December 6, 2019.

This follows the enactment in December 2018 of Income Tax Amendment Act No. 38 of 2018 which limited interest deductions for companies through a rather technical formula to 30% of what is called Tax EBITDA.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

The Metropolitan Chess Championship got underway at the President Hotel on Thursday. PIC: MORERI SEJAKGOMO

Stage set for Metropolitan chess championship

Calistus Kolantsho | 6 h ago

Coal output drops

Mbongeni Mguni | 7 h ago

Soldier faces charge for cop's murder

Larona Makhaiza | 9 h ago

Batswana join global search for HIV cure

Mbongeni Mguni | 12 Apr 2024

Win propels Galaxy five points clear

Larona Makhaiza | 1d ago

Mobile money reaches P26bn

Mbongeni Mguni | 1d ago

BAC forges path in Data Intelligence

Phatsimo Kapeng | 1d ago

ODC gives BNOC P500,000 for Olympics

Calistus Kolantsho | 1d ago

Routine child vaccination imperative

The recent Vaccination Day in Motokwe, orchestrated through collaborative efforts between UNICEF, USAID, BRCS, and the Ministry of Health, underscores a commendable stride towards fortifying child health services.The painful reality as reflected by the Ministry of Health's data regarding the decline in routine immunisation coverage since the onset of the pandemic, is a cause for concern.It underscores the urgent need to address the...

The Monitor Editor | 15 April 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More