BURS to pay back Bank Gaborone's P4m

Burs
Burs

The Court of Appeal has ordered the Botswana Unified Revenue Service (BURS) to refund Bank Gaborone P3.89 million charged improperly during a tax assessment.

In a recent judgement, the country’s highest court said the taxman had made off with more than his fair share when the bank’s tax liabilities were assessed for the years 2011 and 2012.

According to the facts of the case, the BURS had charged the bank the amount claiming that Bank Gaborone had classified its vehicle finance as a taxable amount, rather than a loan, which is not taxable. The BURS said the bank had therefore understated its tax liability for those years.

Editor's Comment
Happy Independence!

We are 56 years old and what do we have to show for it? Looking at where Botswana started and where it is today, there are a lot of developments, but whether the developments match the number of years we have enjoyed as a country is a topic for another day.The fact that cannot be denied is we have seen major developments, but we are still lacking in several pertinent areas.Our beautiful country imports almost everything. We import fuel, food,...

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