Taxman's bitter pill will be hard to swallow

SONA? What SONA?: Baoketseng Ngambe in Seronga says she has no clue the State of the Nation Address is on Monday. Her sole concern is the reopening of tourism borders COVID-19 has decimated incomes and tax increases will only make the situation worse  PIC: THALEFANG CHARLES
SONA? What SONA?: Baoketseng Ngambe in Seronga says she has no clue the State of the Nation Address is on Monday. Her sole concern is the reopening of tourism borders COVID-19 has decimated incomes and tax increases will only make the situation worse PIC: THALEFANG CHARLES

The good news is that next year’s budget shortfall will be smaller than this year’s. The bad news is that you will have to foot more of the bill. Staff Writer, MBONGENI MGUNI explains

Following months of signals from authorities such as the Bank of Botswana (BoB) and the Botswana Unified Revenue Service (BURS), the Finance and Economic Development ministry has confirmed that the dreaded increases in certain types of tax will take effect next year.

The Budget Strategy Paper, a Finance Ministry blueprint released as part of the budget process each year, indicates that government expects revenues of P58.8 billion in the 2021-2022 financial year, up from P52.3 billion in the current year, which ends on March 30, 2021.

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