Botswana And Seychelles To Enter Into DTAA
Urging parliament to adopt the Botswana/Seychelles Double Taxation Avoidance
Agreement last week, Botswanian Minister of Finance and Development Planning
Baledzi Gaolathe, stated that such agreements will help support and encourage
foreign investment. Gaolathe told Parliament that the agreement covers taxes on income and provides
for co-operation on avoidance of double taxation and prevention of tax evasion
on income and capital gains. The minister went on stress the importance of such agreements in the development
of Botswana as an international financial services centre where firms will be
conducting much of their business with foreign-based businesses. Gaolathe explained that the Botswana/Seychelles agreement would also open up
possibilities for mutual co-operation in the prevention of tax evasion, avoidance
and fraud by providing for the exchange of information on taxpayers. The DTA will enter into force in July next year following the ratification
of the agreement by lawmakers in both countries. .
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