Botswana Income Tax Calculator 2024

Overview of Botswana Salary Calculator

Botswana has a progressive income tax rate ranging from 0% to 25%.

Effortlessly calculate your income taxes and relevant social security contributions using our Botswana salary calculator.

Calculate Your Botswana Salary After Taxes

To use the Botswana income tax calculator, simply input your gross income and income type to begin.

Notice: This calculator currently computes Personal Income Tax (PIT). Integration of Social Security contributions is in progress and will be available soon.

Convert Your Salary To BWP

TaxAssist+ from The Next Gen Business is a tax calculation tool, tailored to use each country’s local currency for precision and simplicity.

To fully utilize this feature, please convert your native currency into BWP, ensuring accurate and efficient tax computations.

📌 What Is the Average Salary in Botswana?

Botswana (5150 BWP/month), known for diamond mining, shows steady economic growth with opportunities in mining, tourism, and financial services, focusing on diversifying away from mineral dependency.

Botswana’s political stability and efforts to diversify its economy make it a promising destination for investment and professional growth, particularly in sustainable tourism and agriculture.

📌 What Is the Minimum Wage in Botswana?

Botswana’s minimum wage varies by sector, with P 7.34 (US$0.62) per hour for most full-time labor in the private sector, aiming to balance economic growth with worker welfare. This wage structure is part of Botswana’s broader economic strategy, which includes a focus on diamond mining, tourism, and financial services. The country’s minimum wage policy reflects its commitment to ensuring fair compensation in a growing economy.

📌 What Are The Types of Taxes in Botswana?

Botswana has a progressive income tax rate from 0% to 25%.

Corporate income is subject to a 22% tax rate.

VAT is set at 14%.

References

➤ View References

PricewaterhouseCoopers: taxsummaries.pwc.com

Trading Economics: tradingeconomics.com/country-list/social-security-rate

KPMG: kpmg.com/sg/en/home/services/tax/tax-tools-and-resources.html

OECD.Stat: stats.oecd.org/index.aspx?DataSetCode=TABLE_I5

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TaxAssist+ by The Next Gen Business: Advanced Income Tax and Contribution Calculations for the 2024/25 Tax Year

TaxAssist+ streamlines the complexity of income tax calculations by accurately considering not only your gross income and the nature of your income (e.g., self-employed, traditional employment), but also essential deductions and contributions. This tool is designed to provide a comprehensive assessment of your tax obligations, including income taxes and social security contributions.

Step-by-Step Calculation Process:

Computing Gross Income and Adjustments: We start by calculating your gross income, taking into account the type of income you earn. This is crucial in determining the subsequent steps and applicable rules in the calculation process.
Determining Taxable Income: After identifying the gross income, TaxAssist+ calculates your taxable income. This involves adjusting your gross income with allowable deductions, considering factors unique to your income type. This step is pivotal in ensuring an accurate basis for tax calculation.
Incorporating Income Taxes and Social Security Contributions: Our sophisticated algorithm then calculates your income tax liabilities and social security contributions, if applicable. This integration is a key differentiator, as it provides a more comprehensive overview of your total tax obligations.

TaxAssist+ ensures a thorough and accurate estimated tax calculation, providing you with clear insights into your financial obligations and aiding in effective financial planning.

Update Schedule: TaxAssist+ continuously monitors for amendments to tax rates and regulations, ensuring that our calculators remains current for the current tax year.

Customer Support: For any comments or inquiries, we encourage you to reach out directly to our support team via our contact page.

Step 1

Our international research professionals meticulously compile and scrutinize the latest tax laws and regulations to ensure foundational accuracy.

Antonio Garcia

Macroeconomics Research Expert

Step 2

A dedicated team of independent fact-checkers rigorously reviews and authenticates the compiled data for integrity and compliance.

Fact-checked

By independent fact-checkers

Step 3

Our tech team then integrates these verified updates into the TaxAssist+ calculators, ensuring they reflect the most current tax rates.

Liam Hollis

Product & IT Lead at TNGB Research