Tax dodgers swindle BURS P9.2bn

Friday, February 01, 2019

BURS frequently raids second hand vehicle dealers who are suspected of major trade misinvoicing the country

Tax evaders, both individuals and companies, used the under-invoicing of imports to divert at least US$885 million away from the Botswana Unified Revenue Service (BURS) in 2015, in one of the world’s highest rates of the particular tax trick, BusinessWeek has learnt.

Known as trade misinvoicing, the trick involves fraudulently manipulating the price, quantity, or quality of a good or service on an invoice submitted to Customs, in order to pay less tax or face a lower tax obligation.

Companies benefiting from tax incentives also inflate their export invoices in order to improperly claim benefits as well from tax authorities.

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Tax dodgers swindle BURS P9.2bn

Tax evaders, both individuals and companies, used the under-invoicing of imports to divert at least US$885 million away from the Botswana Unified Revenue Service (BURS) in 2015, in one of the world’s highest rates of the particular tax trick, BusinessWeek has learnt.

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Inspect the voters' roll!