Times Of Swaziland: DOMESTIC TAX REVENUE COLLECTED UP BY 12%

DOMESTIC TAX REVENUE COLLECTED UP BY 12%
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Nhlanganiso Mkhonta on 12/02/2024 08:41:00


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.