BURS to pay back Bank Gaborone's P4m

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.