Offshore Oil Botswana. Numbered accounts

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The new tax law would take effect from 1 January 2008, but it provides a five-year transition period, which will help foreign firms to adapt to the new rules. Guidance on the new tax should be submitted to the State Council for final consideration in this month, but all spoke about the dates will be shifted to a later period. Among the major issues that are likely to remain unresolved in the coming years: exemption from taxes, the movement of finance companies and non-governmental institutions, the impact of taxation on donations and the status of special economic zones in China.