Africa-Press – Eswatini. Brightwell Nkambule, the Commissioner General of the Eswatini Revenue Service (ERS) has released a statement, announcing the relaxation of the newly introduced Tax Compliance Certificate (TCC) Regulations.
This comes after Hhukwini Member of Parliament (MP) appealed for the relaxation of the Regulations to allow small businesses to breathe, the MP was speaking during the Ministry of Finance Parliament debate last week.
“As part of our ongoing efforts to support taxpayers in meeting their tax compliance obligations, the Eswatini Revenue Service (ERS) is providing an update on simplified procedures for complying with the Income Tax Compliance Certificates Regulations, 2022, particularly regarding procurement transactions.
The ERS has adopted a phased, supportive approach to implementing the Tax Compliance Certificate (TCC) requirement to minimise disruption to businesses while encouraging taxpayers to regularise their tax compliance affairs. Taxpayers with Annual Turnover below E500 000.00”, said the Commissioner General through the statement sent on Wednesday.
On another note, the Commissioner General said ERS will delay the enforcement of the Tax Compliance Certificate (TCC) requirement for procurement transactions until 31 March 2027 for taxpayers whose annual turnover is below E500,000, provided that they do not have outstanding tax obligations.
But the Commissioner General said, where such taxpayers have outstanding tax obligations, the ERS “remains open to accepting reasonable and workable arrangements” to assist them in settling the obligations.
“During this period, taxpayers with turnover below E500 000.00 will be assisted to register under the Presumptive Tax Regime, which provides a simplified tax framework for small businesses. Under this regime, the applicable tax rate is 0% for businesses with an annual turnover below E50,000.00 and 1.75% for those with an annual turnover above E50,000.00. Taxpayers with Annual Turnover above E500 000.00. The ERS is working closely with procuring entities to automate and simplify the verification of tax compliance. Further simplified compliance measures will be communicated as the processes are adjusted to accommodate the different circumstances that taxpayers are facing. Support for Taxpayers with Compliance Challenges Taxpayers with outstanding tax obligations are encouraged to take advantage of the ERS support programmes, including the Sondzela Sikhulume initiative and the Voluntary Disclosure Programme, which provide opportunities to regularise their tax affairs in a supportive and cooperative manner,” reads the statement in part.
