Botswana currently is rated as the freest economy in Africa according to Index of Economic Freedom released by US -based heritage foundation
Botswana was also rated as the least corrupt country according to transparency International corruption perception index. Botswana is claiming and enforces the rule of zero tolerance for corruption.
Botswana enjoys the benefits of a truly non-racial, multiparty democracy and the social and political stability with negligible levels of crime and violence , where constitutional rights and civil liabilities are guaranteed
TAXATION AND LEGISLATION
Tax rates in Botswana are among the lowest in the world
Income tax is levied on gross income less deduction of expenses.
Maximum tax rates:
- for companies -22%
- Individuals -25%
- Manufacturing companies-25%
- Value Added tax- 12%
Botswana abolished exchange control in February 1999. Foreign exchange forms should be completed , as Bank of Botswana requires a record of the amount of currency in circulation
While cash of any amount is no longer restricted, any person entering or leaving Botswana is required to declare pula and foreign currency bank notes in their possession in excess of P10 000.00.
FACTS AND FIGURES
Land area: 582 000sq.meters
Population:1.68 Million
Capital city:Gaborone
Official languages:English and Setswana
Climate: Subtropical
Weights and measures:Metric system
Time:2 hours ahead of GMT
Electricity supply:250 V
International dialing code; 00267 /+267
