The 5% tax applies to parking/storage fees
The Income Tax Act (ITA) mandates a 5% withholding tax on any payments made for the use of land or...
Heirs don’t pay most inheritance taxes
Transactions involving the transfer of ownership of immovable property may trigger a tax known as transfer duty, which is payable...
No CGT exemption on company-owned houses
The Income Tax Act generally provides tax relief for individuals who sell their houses, regardless of the motive behind the...
The tax treatment of IFRS 16 adjustments
As the International Financial Reporting Standards (IFRS) gain widespread adoption globally, it is crucial for companies to understand the tax...
Declare VAT on foreign interest income
The Value Added Tax (VAT) Act generally prohibits VAT-registered individuals from levying and reporting VAT on exempt supplies, such as...
Why prepaid expenses are tax-deductible
If you're running a business, you're probably aware of the importance of keeping your finances in order. One way to...
No output VAT if input VAT was denied
Today, we'll delve into the intriguing topic of Value Added Tax (VAT) and its influence on business transactions, focusing specifically...
Tax aspects of property companies (VRLSCs)
Variable rate loan stock companies (VRLSCs) are gaining popularity globally, and Botswana is witnessing a similar trend. These companies specialise...
When do unknown receipts trigger income tax?
It is not uncommon for businesses to receive funds in their bank accounts without being able to identify the client...
Housing allowances are not tax-efficient
Recognising and rewarding employees is integral to business success, often correlating with increased productivity. Beyond mere productivity, efficiently rewarding employees...
