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WORRIED: Lekau
Botswana Unified Revenue Services (BURS) Acting Commissioner General, Segolo Lekau says the country’s various trade agreements have affected Botswana’s tax collection.
In February last year, Botswana signed the African Continental Free Trade Agreement (ACFTA).
While this allowed the country to benefit from inter-regional trade within the continent, Lekau explained it also means trade taxes – tariffs collected on imports – with other African nations were no more.
“This means when we consume within the continent, there are no taxes. As you may be aware, when we consume from the likes of the European Union (EU), as we are also sending our beef there, duty rates have been decreased,” said Lekau.
CITY SKYLINE: Propert market on the rise
The property market has generally seen an improvement in the second quarter of the year, with the residential segment performing better during this period than in the first quarter of the year.
According to the Monetary Policy Report availed recently by the Bank of Botswana (BoB), the residential rental property market’s good performance was due to good demand for sales and rentals for low-end properties despite the lockdown in the second quarter of the year.
However, the report notes that demand and supply for rentals and sales in the medium-end property segment decreased marginally during the period under review.
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