Latest News

Botswana National Front Central Committee (BNFCC) over the weekend res...
Public Accounts Committee (PAC) has raised a concern over the rising n...
Botswana Prisons Service has committed to start a video conferencing f...
The High Court has for the second time interdicted the Botswana Red Cr...

Ten firms queue up as SPEDU tax deal goes to Parly

Selebi-Phikwe's survival is still uncertain
At least 10 firms have applied for the SPEDU tax arrangement, under which those approved would enjoy revised rates of five percent, instead of the prevailing 22%, BusinessWeek has established.

The special tax arrangement is part of a range of initiatives driven by government to boost economic activity in the Selebi-Phikwe region, which was dealt an existential blow by the October 2016 closure of BCL Mine. Other incentives include zero customs duty on imported raw materials as well as fast-tracked land leases, licences, permits and utilities.

According to a draft of the tax order, which was tabled before Parliament on Wednesday, the five percent tax rate would only apply to companies engaged in manufacturing, tourism and agriculture. After the first five years of enjoying the discounted rate, businesses will then be required to pay 10%. The order also states that the special rate will only apply to businesses in Selebi-Phikwe, Bobonong, Mmadinare-Sefhophe, Lerala-Maunatlala and neighbouring villages, farms and cattle posts.

Authoritative sources within government said at least 10 companies had already sent through applications to the Ministry of Finance

and Economic Development, which has been tasked with vetting all companies and approving their participation in the deal.

The Ministry’s spokesperson, Fenny Letshwiti told BusinessWeek that the companies would have to wait for Parliament to decide on the tax deal, tabled as Statutory Instrument No 19.

“We are arranging to take it to the current session of Parliament for approval and it is only then that we can process applications from companies in the region,” he said.

Letshwiti said both existing companies operating in the SPEDU area and those from outside the country’s borders could apply for the tax incentives. The SPEDU tax deal has been well received by most experts who say it carries the potential of resuscitating business in the dying region.

“Of course some tax has been sacrificed but it is in exchange for jobs and wealth creation,” said Aupracon managing tax consultant, Jonathan Hore.


Banners ?>


Kwa Botswana ke fitlhetse moupudu o budule

Latest Frontpages

Todays Paper Todays Paper Todays Paper Todays Paper Todays Paper Todays Paper
Adana Escort Adıyaman Escort Afyon Escort Ağrı Escort Aksaray Escort Amasya Escort Ankara Escort Antalya Escort Antep Escort Ardahan Escort Artvin Escort Aydın Escort Balıkesir Escort Bartın Escort Batman Escort Bayburt Escort Bilecik Escort Bingöl Escort Bitlis Escort Bolu Escort Burdur Escort Bursa Escort Çanakkale Escort Çankırı Escort Çorum Escort Denizli Escort Diyarbakır Escort Düzce Escort Edirne Escort Erzincan Escort Elazığ Escort Erzurum Escort Eskişehir Escort Giresun Escort Gümüşhane Escort Hakkari Escort Hatay Escort Iğdır Escort Isparta Escort İskenderun Escort İstanbul Escort İzmir Escort İzmit Escort Karabük Escort Karaman Escort Kars Escort Kastamonu Escort Kayseri Escort Kıbrıs Escort Kırıkkale Escort Kırklareli Escort Kırşehir Escort Kilis Escort Kocaeli Escort Konya Escort Kütahya Escort Malatya Escort Manisa Escort Maraş Escort Mardin Escort Mersin Escort Muğla Escort Muş Escort Nevşehir Escort Niğde Escort Ordu Escort Osmaniye Escort Rize Escort Sakarya Escort Samsun Escort Siirt Escort Sinop Escort Sivas Escort Şırnak Escort Tekirdağ Escort Tokat Escort Trabzon Escort Tunceli Escort Urfa Escort Uşak Escort Van Escort Yalova Escort Yozgat Escort Zonguldak Escort Alaçatı Escort Aliağa Escort Alsancak Escort Bornova Escort Buca Escort Çeşme Escort Çiğli Escort Gaziemir Escort Karşıyaka Escort fethiye escort iskenderun escort iskenderun escort iskenderun escort iskenderun escort iskenderun escort