Foreign Investors Evade Tax Regoeng

In a question in Parliament last week, Regoeng wanted to know if it was not an opportune for travellers at ports of exit carrying cash above a certain threshold to produce proof from the bank that the money was withdrawn from and/or information on its real source.

Responding to the question, Minister of Finance and Economic Development, Thapelo Matsheka told Parliament that there was no maximum amount of hard cash that an individual was allowed to carry when they travelled to foreign destinations. However, Matsheka said that in line with the general cash transaction threshold provided for under Regulation 19 of the Financial Intelligence Act, travellers in or out of Botswana are required to declare the money.