In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on March 14, 2016
The Phase 2 review rates Botswana as overall largely compliant with the international standard. Botswana’s legal framework generally ensures that ownership, accounting and banking information is available according to the standard. Botswana has taken action to address key recommendations made in its Phase 1 peer review regarding information on trustees and nominees. However, Botswana is recommended to ensure that all accounting information, including underlying documentation, is retained for all entities and arrangements. In practice, Botswana is also recommended to ensure that the monitoring and enforcement of ownership and accounting information is strengthened. The report notes that Botswana’s authorities have the power to obtain and provide information in accordance with the standard. The report recommends that Botswana ensures that its EOI agreements are brought into force expeditiously. Finally, Botswana has created a dedicated unit and a detailed process to manage exchange of information requests, however this has not been tested in practice.For further information on Botswana’s exchange of information practices and to read the full report click here.