ASIANS PROMOTING CASH ECONOMY – SRA

LOBAMBA – The country is losing billions of Emalangeni in suspected tax evasion and undetectable money trails through informal operations by Asian-run businesses.

This was the impression given during yesterday’s submissions by the Swaziland Revenue Authority (SRA) Commissioner, Dumisani Masilela before the ongoing Parliament Select Committee.

Masilela was invited to make submissions and answer to questions on the SRA’s experiences as they administer revenue collection in the country in relation to the Asian community that the committee was looking into, more so because they (Asians) were running businesses in the country.

“What we have discovered is that the Asian communities are more into what we can classify as small and medium enterprises. There is a lot of informality in the way they do business, which causes problems for us as an administration, as you would expect how difficult it is to tax the informal economy,” said Masilela.

He said if, therefore, there were characteristics of informality in any segment in taxpayers it makes their life more difficult.
linked
The SRA commissioner said the one problem, maybe that was linked to that, was that the Asian community does not have facilities that would assist them conform to the dictates of their religion in terms of banking.

Therefore, they found that Asians were then promoting the cash economy in the country.

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: