Interest limitation kicks in
Friday, December 13, 2019
![Buck stops here: The BURS plans to tighten collections in 2020](https://cdn4.premiumread.com/?url=https://www.mmegi.bw/uploads/imported_images/2019/december/13/php6xXQHE.jpg&w=400&q=72&f=jpg&t=1)
Buck stops here: The BURS plans to tighten collections in 2020
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.
The BDP as a party known to have ample resources has always held its primaries well in time, but this time around that was not the case. The first leg of the primaries was held last weekend, with the final leg being billed for the coming weekend. This time around, the BDP failed to shine in its primary elections. The elections were chaotic; most if not all polling stations didn't open at the specified time of 6am. Loyal BDP members braved the...