UBOMBO SUGAR MOST TAX COMPLIANT, HIGHEST CONTRIBUTOR

EZULWINI – Timely payment of taxes supports government in delivering the so much-required public services that will ensure improved well-being of emaSwati and provide infrastructure and services that will spur growth of the economy.

In order to motivate compliance, the Eswatini Revenue Service (ERS) has introduced a number of initiatives and one of those is the Client Appreciation Day.  This year marked the second edition of the awards and this time around, the Ubombo Sugar Limited was crowned the most compliant and highest tax contributor in 2024.  The company was awarded during the second annual ERS Client Appreciation Day held at the Happy Valley hotel on Friday night. ERS’s client appreciation day was meant to recognise and reward members of the business community, who contributed to the fiscus and were fully compliant with legislation administered by the ERS as such was done through timely declaration and payment of taxes.
In order to become the most compliant company, Ubombo Sugar Limited submitted all due tax returns to ERS without fail. To become the highest contributor, Ubombo Sugar Limited injected E493 million into the country’s economy by paying taxes.

E103 million was paid as income tax, E292 million as value added tax (VAT), E81 million as employee tax (Pay-As-You-Earn) and E17 million was paid as withholding tax.
Receiving the award on behalf of Ubombo Sugar was Nsizwa Mutasa, who is the company’s Tax Specialist and Secretary, who explained how they did it.

Relationship

He stated that first and foremost, they created a very good working relationship with the tax administrator (ERS). “We found that doing business with ERS is quite straight forward,” he said.  Mutasa said another thing that helped them was not engaging non-compliant suppliers. He said it was very specific in their processes that their suppliers should be tax compliant. He stated that they regularly conduct tax health checks, where they verified tax clearance certificates for validity. He stated that they do sometimes receive fraudulent certificates from prospective suppliers and they then shared those cases with the ERS.  It is also worth noting that just a few weeks ago, Ubombo Sugar Limited held its annual suppliers day, where they engaged with their suppliers on a range of topics whereby compliance took centre stage.  On the sideway of this event, the Ubombo Sugar Limited Corporate Affairs Manager Leonard Ndzimandze shared with the media for the current year, the company was projecting to inject at least around E500 million into the country’s tax revenue in the current financial year.

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