Input tax: the do�s, don�t�s and requirements
Friday, August 01, 2014
Input tax is VAT that is charged to, and can be claimed by a registered person when he/she acquires goods and/or services for the advancement of his/her taxable activity. Consequently, persons who are not registered for VAT bear the VAT as a cost, except in special instances such as where goods are exported from Botswana by non-resident persons, including tourists. Such persons can later claim VAT refunds, which technically does not qualify as input tax. Input tax only relates to VAT charged to VAT registrants.
The Ministry of Agriculture, local producers, retailers, and industry associations must work together to overcome the obstacles hindering vegetable production and distribution.This collaborative approach is essential to improve the availability, quality, and affordability of vegetables in the market.Firstly, the Ministry of Agriculture should provide support and guidance to local farmers to enhance their productivity and efficiency. This could...