Business

Interest limitation kicks in

Friday, December 13, 2019
Buck stops here: The BURS plans to tighten collections in 2020
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.

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Editor's Comment
BGCSE results: A call for gov't to act

The Botswana Examination Council (BEC) released the BGCSE results for students who sat for Form 5 examinations in 2024.Whilst initially BEC released that only 3,673 candidates scored 36 points and above, the number was corrected to 6,521 during a press conference, which was held on Friday at the BEC boardroom.The set cut-off for government sponsorship is 36 points and sadly this means that only 6,521 will be eligible for the support and the...

The Monitor Editor | 04 March 2025
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