Miners� refunds pull down VAT income

Friday, February 26, 2016

An unexpected substantially high refund claims, especially from mining companies, have knocked down government’s Value Added Tax (VAT) collections for the year ending March 2016.

According to Botswana Unified Revenue Service (BURS) VAT collections are estimated to decline from their original budget by P1.17 billion in the current financial year.

According to BURS communications specialist, Refilwe Moonwa for the period April to December 2015, the mining refunds stood at P1 billion because production from the mining sector is zero-rated hence they can claim refunds even when no output is being produced.

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Miners� refunds pull down VAT income

An unexpected substantially high refund claims, especially from mining companies, have knocked down government’s Value Added Tax (VAT) collections for the year ending March 2016.

Stanbic pretax profits up 11%

The audacity to be a unicorn

Faulty gadgets top complaints to BOCRA

Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

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Serowe woman ingests acid, attempts suicide

Inspect the voters' roll!