, held its first trade contact mission in South Africa last week.
Speaking to City Press on the sidelines of the event, BITC’s executive director for international business, Moshie Ratsebe, said Botswana had offered investors very competitive corporate taxes, which stood at 22%.The corporate income tax rate could be as low as 5% in priority sectors, such as manufacturing, and in areas such as the town of Selibe Phikwe, a mining town in the central district of Botswana.South Africa’s VAT is charged at 15% and the maximum personal income tax rate is 45%.
Ratsebe, who is based at the BITC’s office in Sandton, said there was a particular focus on attracting investment to Selibe Phikwe because it had turned into an economic disaster after the state shut down its major mining operation there. Historically, it was a mining town producing copper and nickel until the government liquidated the Bamangwato Concessions Limited mine in 2016.
Les2020ic That is worth checking, but I don't trust the current president.
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