Botswana scores a double
22-04-2010

WINDHOEK - Botswana this week signed two double taxation avoidance agreements with Lesotho and Swaziland respectively in Namibia.

The agreements will split taxing rights between Botswana and the two countries respectively and ease the tax burden on investors who are resident in one country but trading in another.

We should be promoting development cooperation within our region and this is a milestone achievement in that direction, said Mr Kenneth Matambo, the Minister of Finance and Development Planning.

One investor should not be taxed twice on the same income, and we, therefore, hope to see more of our people doing business across our countries, he said.

His Lesotho counterpart, Dr Timothy Thahane, noted that the two countries have been cooperating at various levels, but neglect reciprocal trade investment between them.

This agreement will open more good things because we also have a long history of cooperation.

Mr Majozi Sithole, Swazilands finance minister hailed the agreement between his country and Botswana as an outstanding achievement that will create jobs and wealth in the two countries.

He noted that small and medium enterprises would benefit from the agreement.

Botswana has so far concluded 10 double taxation avoidance agreements, and will soon sign others with two European countries and five SADC countries. BOPA