Connect with us

Hi, what are you looking for?

Business

ATAF suggests tax relief measures

ATAF suggests tax relief measures
PUT MEASURES IN PLACE: BURS

The African Tax Administration Forum (ATAF) has in the spread of the Covid-19, suggested a few measures on how tax authorities can deal with the current situation.

While the local tax authority, Botswana Unified Revenue Service (BURS) has put in place its own measures, the body of which BURS is a member has put forward its own suggestions.

One of the suggestions made is the extension of deadlines for filing tax returns to accommodate the disruption taxpayers may be facing due to the pandemic.

However, the organization says the extension should be based on the compliance level of the taxpayer but has suggested that all taxpayers be considered, as the extension will play a dual role of easing the burden on taxpayers and limiting the transmission risk of revenue staff where there are limited digital channels or none.

The other measure that has been suggested to the tax authorities to consider is to grant taxpayers flexible payment plans like monthly or bimonthly installment payment for a certain period beyond the due date.

Advertisement. Scroll to continue reading.

This ATAF has said would ease some of the economic burden exerted by Covid 19 on taxpayers.

The body says the flexible payment plan may also include the suspension of payments for a certain period.

Some of the factors to be considered when offering flexible payment plans include compliance history of the payer and economic sectors.

Tax authorities have also been advised to suspend penalties and interests for late filings by taxpayers.

Furthermore, authorities have been advised to consider temporary tax rates reduction as another way to ease the economic burden brought onto the taxpayers by the pandemic, which has so far claimed over 100,000 lives globally.

However, in considering this measure, ATAF is of the view that the jurisdiction should be clear on the period covered by the reduction and the legal framework to safeguard such.

Advertisement. Scroll to continue reading.

ATAF has cautioned that in case of consumption taxes like value Added Tax (VAT), benefits may not reach the intended public as suppliers can absorb the reduced rate as part of the price mark up in jurisdictions where there is no price control.

BURS, meanwhile, has announced it will allow for deferral of 75 percent of any two quarterly payments between March and September 2020 for businesses with deferred payments to be repaid from March next year.

The local tax authority has also reduced VAT refunds period from 60 days to 21 days.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Advertisement
Advertisement

You May Also Like

Entertainment

A romantic get away for olympic medalist Nijel Amos turned out to be a possible worst nightmare for one of the fastest man on...

News

A family in Hukuntsi watched helplessly as P18,000 worth of lobola cash was reduced to ashes after their house caught fire last Tuesday night....

News

*Will it be Lesaso, Letsholo or Moabi

News

Police in Tutume are investigating a case in which a 25-year-old man allegedly set ablaze his girlfriend’s hut. The incident happened last week Wednesday...

News

A Mosetse village man appeared before a Francistown Magistrate Court last week on a single count of threat to kill. According to the charge...

News

Festive ended with fireworks for a married couple in Gamodubu village last Sunday. Sadly it was not the type that light up the sky...

Business

We start the year by featuring Tumelo Pabalinga, the Executive Director of Emergency Assist 991 – previously known as Netcare 991. The Sebina native...

Sports

...As Mapantsola Cruise to 3-1 Victory Over Fighters

News

WOMAN’S HEARTBREAK FOR SON’S GIRLFRIEND KILLED IN CAR CRASH A devastated mother-in-law to be, Keabonye Ntsabane, has paid tribute to her son’s girlfriend who...

Entertainment

Local riders will once again miss the opportunity to compete in the popular Toyota 1000 Desert Race since the event will be held in...

News

A report by Psychiatric Out-patient Disorder Consultations indicates that more men in Botswana are prone to mental illness than women. Of the close to...

Politics

A peep into a ‘Dry’ Backbench During the festive holidays, another prominent member of the ruling Botswana Democratic Party (BDP), Mpho Balopi resigned from...

Entertainment

The second annual Botsalano Cup, an initiative by area Councilor Ontiretse Zuma Baakile is on the cards. The event will be preceded by an...

Entertainment

Although her music career has hit Mt Kilimanjaro-like heights in recent years, 31-year-old Girlie ‘wa di body’ is in fact a veteran of the...

News

Francistowners reveal their dreams for 2022 For many, the dawn of a new year is seen as a chance for a fresh start, an...

Politics

As they look to fine-tune their efforts to oust the Botswana Democratic Party (BDP) from power after 57 years of uninterrupted rule, Alliance for...

Advertisement

Copyright © TheVoiceBW. (Since1993) made with ❤️ in Botswana.