Merges investment promotion-related institutions into a single agency
06 Feb 2023
On February 6th, 2023, the Minister of Finance presented the Budget Statement for 2023-24, which included several significant changes. These changes are as follows:
- The merger of four State-owned enterprises, namely the Botswana Investment Trade Centre (the country's investment promotion agency), the Special Economic Zone Authority, the Botswana Tourism Organisation, and the Selibe-Phikwe Economic Diversification Unit, into a single investment promotion agency.
- Companies licensed by the Special Economic Zone (SEZ) are now eligible to apply for tax relief certificates, which will entitle them to a 5% corporate tax rate for ten years, and 10% thereafter.
- The Transfer Duty (Amendment) Act of 2022 now exempts SEZ license holders from paying transfer duty when acquiring immovable property for business purposes in Special Economic Zones.
-
Type:
-
Promotion and facilitation (Investment facilitation , Investment incentives)
-
Industry:
-
Sources:
