Botswana MOF Announces Temporary VAT Reductions to Combat Inflation

The Botswana Ministry of Finance and Economic Development July 27 announced temporary measures reducing certain VAT rates to combat the effects of inflation on households and the economy. The announcement includes: 1) a reduction in the standard VAT rate to 12 percent from 14 percent; and 2) zero-rated VAT rate for cooking oil and liquified petroleum gas. The reduced rates will be in effect…