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Rates and Thresholds


The rates of Income Tax applicable are as follows:

RATES OF NORMAL TAX FOR INDIVIDUALS

 
Taxable Income Exceeds But does not exceed Rates
E0 E100 000 0           + 20% of the excess of E0
E100 000 E150 000 E20 000 + 25% of the excess of E100 000  
E150 000 E200 000 E32 500 + 30% of the excess of E150 000
E200 000   E47 500 + 33% of the excess of E200 000

 

When applying the above rates the following should be taken into account:

  1. Tax payable by a natural person will be reduced by a tax rebate amount not exceeding E8 200 per tax year
  2. The rates are applicable on the amount exceeding E41 000
  3. The tax rebate does not apply in the case of redundant or retiring individuals.

 

CONCESSIONARY RATES OF NORMAL TAX IN THE CASE OF REDUNDANT OR RETIRING INDIVIDUALS

Taxable Income Exceeds But does not exceed Rates
E0 E200 000 E0         + 25% of the excess of E0
E200 000 E300 000 E50 000 + 30% of the excess of E200 000
E300 000   E80 500 + 33% of the excess of E300 000

 

Tax rebate in respect of retiring individuals is E2 700 in excess of the normal rebate.

BENEFITS

Click here for information on the taxation of benefits.

TAX RATE FOR COMPANIES

The effective tax rate for companies (since the 1st July 2013) is 27.5% of taxable income. 

WITHHOLDING TAX

Payments to non-residents
 
Interest 15% due 14 days after the date of accrual
Dividends for companies in Botswana, Lesotho, Namibia and South Africa 12.5% 30 days after the date on which the dividend is payable
Dividends - for other countries 15% 30 days after the date on which the dividend is payable
Sportsmen and entertainers 15% within 15 days from the date of payment
Contractors 15% within 15 days from the date of payment
Royalty and management fees 15% within 15 days from the date of payment
Repatriated branch profits to neighbouring countries (Botswana, Lesotho, Mozambique, Namibia and South Africa 12.5% Not stipulated
Repatriated branch profits to other countries 15% Not stipulated
Payments to persons 15% within 15 days from the date of payment
Payments to residents
Rental 10% within 15 days from the date of payment
Dividends 10% within 15 days from the date of payment
Trusts 33% within 15 days from the date of payment

GRADED TAX

There are two rates

  1. The rate for all Swazi adults in receipt of income is E18/annum and this is payable via the first PAYE remittance system.
  2. The rate for an adult male person not in receipt of income is E4.20/annum.
  3. Female adults not in receipt of an income are not obliged to pay Graded tax.

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PUBLICATIONS

 

    TAX CALENDAR   SEE ALL DATES

Provisional Tax:

1st payment is due no later than 31st December

2nd payment is due no later than 30th June

3rd payment is due on receipt of Notice of Assessment after having submitted Income Tax returns


Remittance of PAYE:

No later than the 7th every month


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