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Muted cheers as BURS exceeds tax targets

Thursday, April 14, 2022 | 1120 Views |

BURS Headquarters in Gaborone PIC: MORERI SEJAKGOMO

The BURS hauled in P45.3 billion in taxes during the year ended March 31, 2022, about P900 million above the set target, as the impact of rate increases made in April 2021 kicked in.

Yesterday, officials at the tax agency said the improved collections were helped by higher contributions from income taxes and Value Added Tax (VAT).

VAT was increased to 14% in April 2021, while the withholding tax on dividends was increased to 10% from July of the same year. Authorities however, raised the income tax threshold for resident taxpayers to P48,000 per annum, from P36,000.

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