ARTICLE · 29 JUNE 2016

Africa Tax In Brief – June 2016

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The Botswana/Isle of Man Exchange of Information Agreement (2013) entered into force on 5 March 2016 and generally applies from 5 March 2016.

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BOTSWANA: Exchange of information agreement with Isle of Man enters into force

The Botswana/Isle of Man Exchange of Information Agreement (2013) entered into force on 5 March 2016 and generally applies from 5 March 2016.

KENYA: Stamp duty on nominal share capital

Following publication of Legal Notice No. 60 of 2016 dated 12 April 2016, the initial nominal share capital of a limited liability company is now exempt from stamp duty.

MALAWI: 2016/17 Budget presented to parliament

On 27 May 2016, the Minister of Finance, Economic Planning and Development presented the Budget for 2016/17 to parliament.

Proposed measures include:

increasing the corporate tax rate from 21% to 30% for life insurance businesses;

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