News Flash 16 February 2017 – Botswana – Budget Speech 2017/2018

BOTSWANA BUDGET SPEECH HIGHLIGHTS

The Minister of Finance and Development Planning, Hon. Kenneth Matambo presented the 2017/18 Budget Speech to Parliament on 7 February 2017.

• The country’s economy is expected to grow by 4.2% in 2017, in comparison to the 2.9% recorded in 2016.
• As part of the Eleventh National Development Plan (NDP 11) which was approved in December 2016, the focus will be on the following areas:
  • Development of diversified sources of economic growth and revenue
  • Human capital development
  • Social development
  • Sustainable use of natural resources
  • Consolidation of good governance and strengthening of national security
  • Monitoring and evaluation of government programs
• Government is in the process of developing a Tax Administration Act to simplify the Income Tax Act and Value Added Tax Act.
• Income Tax rates will remain unchanged.

 

Contact our legislation team at info@crs.co.za if you require any additional information.

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