OWN CORRESPONDENT, Gaborone | Thursday 12.00pm.
THE Botswanan government aims to conclude double taxation treaties with all countries in the Southern African Development Community as soon as possible.
The move is attracting foreign and local businesses. Already 16 companies have shown interest in setting-up in Gaborone, the majority of them from South Africa.
International Finance Service Centre consultant John Curtin said Botswana already has double taxation treaties with South Africa, Great Britain, Mauritius and Sweden, and that negotiations are about to be finalised with Zimbabwe and France.
The treaties are part of Botswana’s efforts to lure businesses in the region to set up office in Gaborone under the IFSC project, approved by cabinet two years ago.
The aim of the IFSC is to turn Botswana into the regional hub of financial services and so ease the diamond-rich country’s reliance on the mining industry.
Curtin said it is expected that the IFSC project will take-off in earnest after legislation against proceeds of serious crime has been put before parliament next month. — AFP