Botswana Banks Must Disclose Customer Info To Revenue Services

Written by Ann Brown

From Botswana Guardian

Parliament has approved the proposed amendments to the Banking Act in which banks will now be forced to disclose customers’ confidential banking information to the Botswana Unified Revenue Services (BURS) for tax purposes.

Tax evasion has been worrying the BURS prompting the Minister of Finance and Development Planning, Kenneth Matambo to table the Banking Bill 2013 before parliament. When presenting the Bill he said in recent years, concerns have been increased regarding tax evasion more especially through non-disclosure of banking information.

“Cooperation among jurisdictions is needed and should come in the form of exchange of banking information for tax purposes that will ensure that tax evaders have no safe havens to hide their income and assets and that the right amount of tax is paid in the right tax jurisdictions,” the minister said.

Read more at BotswanaGuadian.co.bw

Sign up for the Moguldom newsletter — the most compelling business news you need to know about reversing inequality in tech, delivered straight to your inbox.


About Ann Brown
Ann Brown has been a freelance writer for more than two decades. Her work has appeared in CocoaFab, Black Enterprise, Essence, MadameNoire.com, New York Trend, Upscale, Moguldom, AFKInsider, The Network Journal, Playboy, Africa Strictly Business, For Harriet, Pathfinders, Black Meetings & Tourism, Frequent Flier, Girl, Honey, Source Sports, The Source, Black Radio Exclusive, and Launch. She studied journalism at New York University and has her B.A. Born in New York, Ann lived in Praia, Cabo Verde, for nearly a decade. She created “An American In Cabo Verde,” a Facebook community.

View Comments