Botswana: Tax proposals in budget 2023-2024
Minister of Finance and Economy Development presented the budget
Minister of Finance and Economy Development presented the budget
The Minister of Finance and Economy Development presented the budget for 2023-2024 on 6 February 2023. Regarding tax, the budget proposes:
- Introduction of electronic billing/invoicing platforms to improve value added tax (VAT) compliance
- Introduction of a digital marking and tracking solution for excisable goods so that legitimate duties and taxes are paid on imported and manufactured products
- Enhanced capacity in the use of non-intrusive equipment (scanners) to curb cases of non-compliance by importers at ports of entry
- Implementation of the “Debt Recovery Strategy” and strengthening of the tax audit function
- Amendment of transfer duty act to remove bottlenecks in the access to land by both Botswana and businesses
- Review of the list of VAT zero-rated or exempt items
Read a February 2023 report [PDF 758 KB] prepared by the KPMG member firm in Botswana
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.