VATupdate

Tax amnesty to apply as from 1 July 2021

On 8 June 2021, the Botswana Income Tax (Remission of Penalties and Interest) Amnesty Regulations, 2021 and the Value Added Tax (Remission of Penalties and Interest) Amnesty Regulations, 2021 were published in the Government Gazette. The regulations implement the tax amnesty proposed by the Minister of Finance and Economic Development in the national budget for 2021/22 presented on 1 February 2021 and apply as from 1 July 2021. The amnesty provides eligible taxpayers with outstanding tax liabilities with the opportunity to settle the principal amount owed in exchange for the write-off of penalties and interest charged during previous tax periods without fear of prosecution.

Source: Deloitte

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