In its latest Article IV mission report, the IMF argues that Botswana must urgently broaden its revenue base and rein in costly tax exemptions if it is to stabilise its fiscal position as mineral revenues soften and recurrent spending remains rigid.
“Measures to broaden the revenue base include streamlining exemptions on zero-rated VAT goods and services, replacing the CIT holidays in Special Economic Zones with less costly investment tax credits,” the IMF said in the report. As reported elsewhere in this publication, the country’s school uniform industry is being shaken by widespread smuggling, fronting and deceit.This is not just a business issue, but a direct attack on a national policy designed to build Botswana’s own economy and protect Batswana jobs.We call on the Ministry of Education, the Botswana Unified Revenue Service (BURS), the Police and all relevant bodies to take immediate and decisive action to…
