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REVIEW TAX LAWS-BUSINESS ESWATINI

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MBABANE – To transform the Eswatini economy, review tax laws! This is the strong message that the Eswatini business community has communicated to government.


Incoming Chief Executive Officer (CEO) of Business Eswatini Nathi Dlamini has said there was certainly a need to review the country’s tax legislation in particular the Income Tax order and the Customs and Excise Act and to a lesser extent the Value Added (VAT) Act.


However, he advised that this should be informed by a clear tax policy direction that recognises that no country can tax its way to fiscal success.
“The Revenue Appeals Tribunal Bill which is long overdue needs to be passed by Parliament so that we have a much fairer and transparent tax dispute mechanism in place,” said Dlamini.
Dlamini said the Eswatini Revenue Authority (SRA) has done a commendable job in improving its role in cross border trade facilitation.


“As always we are looking forward to working with them to further simplify the movement of goods across the border in order to enhance their efficiencies as well as their revenue collection endeavours,” Dlamini explained.
Recently SRA threw a lifeline to financially challenged businesses that may be struggling to meet their tax obligations.
Considering the current cash flow challenges had struck not only the private sector, but also rendered the State cash strapped and failing to make payments for services provided and suppliers on time, the authority opened doors for payment of taxes through payment arrangements.


Commissioner General Dumisani Masilela said as an authority they were fully cognisant of the financial challenges faced by businesses that do not get paid on time due to various financial challenges. He pointed out that it would be folly of the authority not to consider socio-economic factors as they collect taxes, a factor that provided for the main reason why they allowed for payment of taxes through payment arrangements.
However, Masilela said it was important for businesses that may seek to utilise the partial payment arrangement facility to approach the tax collector for negotiations before they pounce on them.

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