Botswana Signs Double Taxation Deal With Russia

by Robert Lee, Tax-News.com, London

22 April 2004

As part of the nation’s quest to attract higher levels of foreign investment, Botswana recently concluded and signed a double taxation treaty with Russia.

"As Botswana continues to attract investors to help diversify the economy and develop international financial services capacity, a double taxation agreement will help to improve our international competitiveness and enhance our image with foreign investors," observed Finance and Development Planning Minister, Baledzi Gaolathe, of the agreement signed at the beginning of April.

Praising the latest deal, the minister argued that countries which have entered into double taxation arrangements are “generally more attractive to foreign investors than those which do not have such agreement."

The deal between Botswana and Russia will lower the rates of taxation on dividends, interest, royalties and management fees in a bid to boost inward investment, Gaolathe explained.

He also added that double tax treaties have been concluded with India, Namibia and the Seychelles.

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