Botswana: France, Botswana sign double taxation avoidance agreement

Gaborone, Botswana (PANA) – Botswana’s finance minister, Kenneth Matambo, has applauded the double taxation avoidance agreement signed between Botswana and France.

The minister told the state-owned Daily News on Monday that the deal could boost foreign direct investment between the two countries.

Matambo said the agreement eliminates chances of double taxation of income between the two countries.

He said the agreement is compliant with international standards on transparency and exchange of information on tax, adding that the instrument facilitated closer cooperation between the two countries’ tax administrations, and would go a long way in helping to guard against tax evasion through exchange of tax information.

Matambo’s sentiments were also shared by the French ambassador to Botswana, Pierre Voillery, who said “I hope this will encourage foreign direct investment between our countries. I wish to mention that Botswana offers a lot of advantages to investors.”

Voillery explained that Botswana would be taken off the French list of non-cooperative states and territories as soon as the agreement comes into effect.

“It means that investors are going to come much easily in Botswana,” Voillery said, adding that the French Agency of Development would also be able to fund development programmes
-0- PANA DRW/VAO 31July2017