COMMERCE RAKES IN E3.6M

MBABANE – The Ministry of Commerce, Industry and Trade collected E3.6 million between April and June, 2019. 

The ministry’s revenue was derived from the trading licences, company licence, liquor    licences, advertising fees and stamp duties.
In the first quarter report for the 2019/20 financial year, it was reported that in the current first quarter of the fiscal year the revenue projection was estimated at E28 376 314 against a collection of E3 654 645.98 which was slightly lower on a year on year comparison indicating a decline of E33 191.02.

From trading licences, it was reported that the ministry collected 13 per cent of the total annual budget. It was anticipated that ministry was going to meet their annual budget target which was E17 million by the end of the financial year.

The actual collection to date was E2 209 849.50 for trading licences which was 13 per cent of annual budget.
“We anticipate that we will meet our targeted annual collection since most businesses renew their licences towards the year end,” reads the report in part.

From company licences, the ministry managed to collect 13 per cent of the total annual budget target. The annual budget for this item was E9 010 000 and they collected E 1 202 368. However, it was pointed out that renewals of company licences were done in the month of July, and an increase was expected during the second quarter.

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