DT3881 - Botswana: double taxation agreement, Article 17: Pensions and purchased annuities

This agreement applies for periods before the new comprehensive agreement has effect (see DT3850).

1. Subject to the provisions of paragraphs (1) and (2) of Article 18 pensions and other similar remuneration in consideration of past employment and any annuity paid to a resident of a Contracting State shall be taxable only in that State.
   
   
2. The term `annuity` means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.