Money Chaps

20/11/2021

An unconventional food for thought 🤔 " SAVINGS ARE OVERATED".

05/10/2021

When a commodity's demand exceeds its supply, the price rises as a result of the extra demand. In addition, when the price of the factors of production rises, so does the price of the commodity. The following are some of the most common causes of inflation

30/09/2021

Moneychaps wishes Botswana a happy and safe 55th Independence Day!

25/09/2021

A price index is a normalized average of price relatives for a given class of goods or services in a given region, during a given interval of time. It is a statistic designed to help to compare how these price relatives, taken as a whole, differ between time periods or geographical locations. Multiple types of baskets of goods are calculated and tracked as price indexes based on the selected set of goods and services. The Consumer Price Index (CPI) and the Wholesale Price Index (WPI) are the two most widely used price indexes (WPI).

Changes in the CPI are used to assess price changes associated with the cost of living, making it one of the most frequently used statistics for identifying periods of inflation or deflation

Overall, each index indicates the average weighted price change for the provided elements, which can be applied to the entire economy, a specific industry, or a specific product.

22/09/2021

17/09/2021

Milton Friedman was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. (Wikipedia)

Milton Friedman famously observed that inflation is taxation without legislation. Yet, when a bill so obviously depends on inflation as a mechanism to raise revenue as this one does, one should not be faulted for thinking that inflation is actually a component of legislation. (Jonathan Lubin)

15/09/2021

11/09/2021

To wrap up our Tax discussion, we thought we’d host a little Q&A questions to clear any doubts or provide more information to you..

What would you like to know about tax and taxation(especially in Botswana)?

07/09/2021

A little humour to brighten up your day ☺️

01/09/2021

Remote work is a working style that allows professionals to work outside of a traditional office environment. It is based on the concept that work does not need to be done in a specific place to be executed successfully.

Income Tax Act:
http://www.burs.org.bw/phocadownload/Revenue_laws/

CAP%2052-01%20Income%20Tax%20Act.pdf https://botswanalaws.com/alphabetical-list-of-statutes/income-tax

29/08/2021

Did you know that in Botswana, intent to evade liability to tax is a criminal offence. Any person who wilfully and with intent to evade liability to tax fails to comply with the provisions of section 58 shall be guilty of an offence and liable to a fine of P4,000 and to imprisonment for two years.

In regards to aiding and abetting an offence: An incorrect return, account, statement or any incorrect information relating to any matter affecting the tax liability of that other person, the first-mentioned person shall be guilty of an offence and liable to a fine of P2,000 and to imprisonment for one year.
Where any person wilfully and with intent to assist any other person to evade assessment or liability to tax does any of the matters referred to in section 123, he or she shall be guilty of an offence and liable to a fine of P4,000 and to imprisonment for two years.

26/08/2021

Have you wondered just what exactly the money you contribute towards taxes go? We’ve complied a few basic examples to give you a better idea