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...
Decoding tax regulations for ‘toys’
Tax authorities worldwide tend to scrutinize luxury vehicles, imposing stringent regulations for both Value Added Tax (VAT) and income tax...
New tax exemptions on terminal payments, pensions
Following the commencement of the Retirement Funds Act Number 38 of 2022 (RFA) with effect from 14 October 2022, professional...
Pastors’ appreciation subject to PAYE
As the year draws to a close, many churches are gearing up to express appreciation to their pastors, often in...
WHT also applies on Trustees’ fees
Effective corporate governance necessitates the establishment of an independent board of directors tasked with overseeing management teams. These directors maintain...
