ERS COLLECTS E6.02BN IN 5 MONTHS

MBABANE - ERS has achieved an impressive year-to-date revenue collection of E6.02 billion, a 13 per cent increase compared to last year’s performance under the legacy eTax system.

This was revealed by the Minister of Finance, Neal Rijkenberg, during the Eswatini Revenue Service (ERS) 2024 Filing season press briefing held at the ERS headquarters yesterday morning.This collection reflects an over 20 per cent collection of the annual target of E14.5 billion which will be 13 per cent higher than the collections made in the 2023/24 financial year. When delivering his budget speech for the current financial year in February, Rijkenberg said this increase shall be delivered by the ERS’s digital transformation programme and improved collaboration with key stakeholders.

Minor

Rijkenberg said, while these results are promising, he acknowledges that there have been some minor issues in the transition to this new platform. “I want to assure you that the ERS is actively addressing these challenges, and we encourage any taxpayers facing difficulties to reach out. The ERS team is committed to helping you stay compliant with ease,” said the minister. The minister said this year marks the first time that income tax returns will be filed through TaxEase. The minister reported that over 7 514 accounts have already been registered. With the ability to link multiple Tax Identification Numbers (TINs) to a single account, TaxEase offers flexibility for individuals and businesses alike, with some users managing up to 20 TINs effortlessly. “We have also seen an encouraging uptake, with 8 124 taxpayers having filed their returns online through TaxEase.

As of September, 54 842 tax returns (38 900- pay-as-you-earn (PAYE), 11 466 - value added tax (VAT), 368 - corporate income tax (CIT) and 3 108 - personal income tax (PIT) have been processed on the platform- a testament to the growing trust in this system.As the country’s businesses are moving through this filing season, the minister emphasised the importance of compliance. He said filing tax returns on time not only keeps one’s business in good standing but also plays a vital role in building a stronger Eswatini. “Every Lilangeni collected helps to fund essential services-improving our infrastructure, healthcare, education, and social welfare systems,” he said.

Contributing

Rijkenberg said by fulfilling tax obligations, one is contributing to the growth and prosperity of the country. He said, everyone has a role to play in driving Eswatini’s economic success, and tax compliance is a significant part of that responsibility.The theme for this year’s filing season: “Stay Compliant, Stay Ahead,” and according to the minister it is more than just a reminder, it is a call to action. Rijkenberg said by staying compliant with tax obligations, not only does one avoid penalties, but also takes control of their financial health and position themselvesfor future success.

Importantly

“Timely compliance ensures the smooth running of your business, supports efficient financial management, and, most importantly, contributes to the overall well-being of Eswatini’s economy. Your commitment is key to keeping our nation moving forward,” said the minister. Rijkenberg said these deadlines were not mere formalities but essential obligations. He said, by adhering to them, one would not only ensure compliance and avoid penalties, but also contribute positively to the country’s collective economic goals.

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