Mauritius and Botswana havesigned a Double Taxation Avoidance Agreement (DTAA), renewing a convention the two countries have had since 1995 on the 15th August 2015.
Speaking at the ceremony, the Minister of Finance and Development Planning of Botswana said the DTAA had to be amended to make it compliant with international standards on transparency and exchange of information for tax purposes.
He further added thatthe Parliament of Bostwana amended the Income Tax Act in December 2012 to allow the Botswana Unified Revenue Service (BURS) to exchange information for tax purposes.
He said it limited disclosure of tax information to persons who dealt with assessment, enforcement or collection of tax. Therefore, the tax information that the tax authority will exchange will be used only for tax purposes.
For his part, the Minister of Foreign Affairs, Regional Integration and International Trade of Mauritius stated that marked conclusion of yet another milestone signaling good relationship between the two countries. He, however, said the partnership should be enhanced to include investment in order to transform their economies from exporting raw materials but finished and enhanced products.
(Source: Daily News of Botswana, August 2015)