Govt unravels tax reform conundrum

Friday, August 20, 2010

Government's recent decision to defer the introduction of company tax reforms to next July has given the private sector a grace period to conform, marking the longest consultative and negotiating episode in Botswana's tax law history.

First announced in the 2008 Budget, the review of the tax regime, which essentially involves the institution of a flat 25 percent tax rate and the halving of withholding tax to 7.5 percent, has created a buzz in the private sector.

Heralding the planned reforms in his 2008 Budget Speech, the late former Finance Minister, Baledzi Gaolathe, promised that these would "improve the investment climate and competitiveness of the economy".

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