On 12 December 2018, Botswana's parliament approved legislation that provides for the introduction of new transfer pricing rules, a restriction on the deduction of interest expense, and amendments to the International Financial Services Centre (IFSC) regime to comply with BEPS Action 5 (Harmful Tax Practices). Transfer Pricing With respect to transfer pricing, the legislation provides more general rules, with detailed requirements to be issued through regulations. Key points include: Transactions with both resident and non-resident related parties must be at arm's length, and if not at arm's length, the amount of income based on a comparable arm's-length transaction will be...