Question 1

XYZ (Pty) Ltd estimated its taxable income to be P800,000 (Botswana Pula) at the beginning of the accounting period ended 31 July 2022.

Required: (Law of Taxation - Botswana)

(i). Calculate tax payable to Botswana Unified Revenue Services (BURS) during the year. (6 marks)

(ii). Calculate self-assessment tax (SAT) payments. (8 marks).

(iii). Explain the consequences of delaying paying the amount due to BURS. (3 marks)

(iv). Describe four (4) disposals that are specifically exempted from capital gains tax (Botswana). (8 marks).