SRA WANTS E46M FROM SWAZILAND PLANTATIONS LIMITED

MBABANE - The Swaziland Revenue Authority (SRA) is demanding over E46 million from Swaziland Plantations Limited.
This amount is in respect of Income Tax, Pay as you earn (PAYE) and withholding Tax.

The exact amount, which SRA wants the Pigg’s Peak-based forestry company to pay, is E46 650 576.06.
Swaziland Plantations Limited (SPL) has since filed an appeal in the High Court where it is challenging the decision by SRA Commissioner General Dumisani Masilela. Through its lawyers, the company has presented 23 grounds of appeal.

In its appeal, the company stated that it received a final income tax report dated September 20, 2016 on September 28, 2016 in respect of the tax years 2009, 2010, 2011, 2012, and 2013. 
This report, according to the company, included three final reports which included Income Tax Audit report, the PAYE Audit report and the Withholding Tax Audit report.

In the report, the commissioner general determined that SPL was required to pay additional tax and penalties in respect of the listed audit findings for the years 2009-2013.
The management of the company highlighted that according to SRA, E36 231 544.25 was in respect of Income Tax, E5 488 949.50 in respect of PAYE. SPL being dissatisfied with the findings made in the report, responded on October 21, 2016 in terms of which it raised objections to certain parts of it. In its appeal filed in the High Court, SPL argued that the commissioner general erred in fact and in law in his determination of revenue by incorrectly recognising income but rejecting costs related thereto.

These are allegations contained in a notice of appeal filed by the company in terms of Section 54 of the Income Tax Order and SRA is yet to respond.

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