Fix income tax errors within 1 year
Generally, mistakes are common in everyone’s everyday dealings. Unlike any other error, a tax mistake or error may result in...
Rental losses can’t be offset against salary
Income tax is generally levied on income that is generated or deemed to be generated from a source in Botswana....
Tax defaults can linger beyond 8 years
Some debts tend to be rescinded or nullified after the lapse of a certain number of years or period. Such...
No CGT exemption on company-owned houses
Generally, the Income Tax Act provides a tax relief for individuals who dispose of their houses. In such cases, the...
Thin capitalisation tax rules don’t affect SOEs
The background The Income Tax Act was amended to restrict or limit loan interest deductions for tax purposes. The restriction...
Private societies and trusts pay tax
The private societies Basically, private societies relate to those organisations formed or created by private individuals, partnerships or private organisations....
Transfer duty due even on 1% share purchase
The basics Basically, transfer duty is levied on the disposal or transfer of immovable property. The tax is paid by...
No VAT claims on hotel expenses
Input tax Firstly, it is vital that we lay down a few basic VAT principles before we get to the...
Loans forgiven trigger donations tax
More often than not, individuals forgive each other and cancel out debts. However, in as much as a cancelled or...
Private use of business assets triggers VAT
The basics To fully comprehend this seemingly complex matter it is vital to take a step back and understand a...
