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All FAQs   69

Business making an annual taxable turnover of over E20million and those admitted into the import VAT deferred payment scheme are required to return monthly and all other registered businesses return quarterly.

There is currently no requirement to attach supporting documentation with a taxpayer’s return. However, all documentation that authenticates the return must be kept for a period of no less than 5 years after the end of the tax period to which they relate for inspection and auditing as and when the SRA may deem necessary.

For Normal VAT, these documents include:

  • A summary of the input tax and output tax schedule making up the refund for that period
  • Such Accounts or records to substantiate the refund claim in terms of s 47(6)

This may be in the form of full tax invoices, credit notes and debit notes in terms of the third schedule of the act.

 

For NGOs:

  • MoU between government and NGO
  • Letter of exemption
  • Copies of tax invoices (and original for verification)

For Diplomats and Consular:

  • Diplomatic ID

Copies of tax invoices (and original for verification)

No they do not as they are a cost to different taxpayers. Reverse charge is VAT that is incurred by the local importer of a service and must be charged in addition to the cost charged by the foriegn service provider. Reverse charge is only a mechanism that places responsibility on the local business to withhold and remit the VAT due to the SRA. E.g. if Swazi business ABC contracts South African business XYZ to provide services at E100,000; ABC will be obliged to calculate 14% VAT on that invoice, being E14,000 and remit this amouunt to SRA as a cost to them. So in principle the services being provided by XYZ will cost ABC E114,000 in total.

Withholding tax on the other hand is a cost to the foreign service provider, being tax from having generated income in Swaziland. The Swazi business ABC is obligated to withhold this amount at the applicable rate and remit to the SRA, failure of which will render ABC liable. So if XYZ quotes E100,000 it needs to be clear to them that they will only receive E85,000 which is less the 15% applicable rate or in the case of application of the Double Taxation rate which is 10%, they will receive E90,000.

In conclusion, a total of E29,000 will be remitted to the SRA although it would have been a cot to two different participants in the engagement contract.

Both the TINs of the buyer and the supplier on tax invoices enables SRA to verify the authenticity of input tax claims by crosschecking transactions between the businesses.

Registered businesses will display the VAT certificate in a prominent place on the business’s premises. The SRA will publicize registered businesses' names and TINs on its website. Such information will be accessible to the general public; the public may also contact the SRA in case there is suspicion of unauthorized charging of VAT by a business.

Yes, since each enterprise or division is treated as a taxable person in its own right.

Yes. A taxable person who conducts  several enterprises or operates  an enterprise in separate divisions or branches may register each enterprise, division or branch  separately if each one:

  • Maintains independent accounting records; and
  • Can be separately identified in terms of the type of activities carried on.

In such a case, the person must complete a separate application form for each branch, enterprise or division. Once registered, each enterprise branch or division is considered a separate taxable person and will get its own Taxpayers Identification Number (TIN).

Yes. Failure to do so may result in that business’ suppliers denied an input tax deduction.

A company cannot start charging VAT until the registration process is complete with all the necessary documents.

The wall certificate should be displayed on the principal place of the business. Copies which are obtainable from the VAT registration office should be displayed in all the other branches.

All church employees are liable to pay income tax (PAYE) on their remuneration (but not the church as an organization as it is, by its nature, an exempt organization.

ALL businesses registered as companies with the Registar of Companies MUST submit audited statements with their tax returns. Sole traders (registered as such) who have an annual turnover exceeding E500 000 are also expected to submit audited statements with their returns. Sole Traders earning less than E500 000 per year may not submit audited statements, though they must submit well presented books of accounts.

Any person who receives employment income of E36 000 per annum either as a full time employee or part time employee; thus any employer is required to deduct tax the tax due from any remuneration paid to their employees

Yes - at the same rate of tax as other similar accommodation offered on commercial land.

Tax is chargeable on the taxable income of a business: where there is a loss there will be no tax charged, however the loss can be carried forward to the following year but they have to be declared and assessed.

There are special tax rates applicable to terminal benefits. Related page

Anyone who receives income from any letting of accommodation is liable to Income Tax on those receipts. It is the responsibility of every person receiving such rental income to declare such income. In the event that such income is not declared the Commissioner General is empowered to raise estimated assessments on such income

Employers will deduct PAYE from the wages of any employee, whether or not they are registered for Income Tax. Registration is a must for all categories ,individuals and companies as taxpayers and also as employers

Their status as regards tax on profits depends on the categories in the Public Enterprise Unit Act and the reason why they were constituted; some are regulatory bodies whilst some are an arm of government. Those who are trading are generally taxed just like any other enterprise.

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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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