DOMESTIC TAX REVENUE COLLECTED UP BY 12%

MBABANE – The total tax revenue collected in the Eswatini economy by the Eswatini Revenue Service (ERS) increased from E10 786 960 753 collected in 2021/22 to E12 037 537 465 in 2022/23, showing an increase of 12 per cent.

According to the Eswatini Communications Commission (ESCCOM) financial report for the 2022/23 financial year, the telecommunications industry contributed 4.6 per cent to the total domestic tax revenue collected in the review period, which is a 0.8 per cent increase from the 3.8 per cent contribution in FY 2021/22. The telecommunications industry’s contribution to personal income tax or pay as you earn (PAYE) increased by 0.3 per cent in 2022/23 to 2.5 per cent, from 2.2 per cent in 2021/22. value added tax (VAT) revenue contribution recorded an increase from 5.1 per cent in 2021/22 to 5.3 per cent in 2022/23.

Contributions

Contributions to company income tax (CIT) and other income tax (OIT) in the review period were lower than contributions in 2021/22 by 0.5 and 2.2 per cent respectively. ESCCOM further reported that employment in the period rebounded to record an increase of 3 per cent, from 1 238 people employed in FY 2021/22 to a total of 1 270 people employed in FY 2022/23. This increase was mainly attributed to an increase in the number of persons employed by mobile network operators (MNO) against a decline reported by the fixed network operator due to attrition.

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