The Minister of Finance and Economic Development on 6 February 2017 delivered the budget proposals for 2017-2018 to the National Assembly.
The budget proposals include measures to improve administrative efficiency and optimize revenue collection—specifically with simplification measures under the income tax and the value added tax (VAT) regimes.
The government is proposing to introduce transfer pricing rules that would include thin capitalisation measures.
In addition, the government is considering the imposition of penalties under the income tax law for non-filers, irrespective of whether tax is payable, and the inclusion of the sale of property by the deputy sheriff as a taxable supply for VAT purposes.
Read a February 2017 report [PDF 685 KB] prepared by the KPMG member firm in Botswana
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in 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 4366, 1801 K Street NW, Washington, DC 20006.