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All FAQs   87

Yes, the supply that agencies are making is a taxable supply. As long as agencies meet the registration threshold of E500, 00.00/annum with regards their commissions (and any other taxable income), the law requires that they register and issue tax invoices, submit returns and payments, keep proper records, claim input tax etc.

The VAT Act does not provide for any compensation although businesses will be able to lower their operating costs through the input tax credit deduction system which is not available to businesses that are not registered.

On the issue of reporting, the duty still lies with the principal (if required to register) and if the agency has agreed to do the ‘additional’ work on his behalf that will be in terms of the agency contract, but the obligation remains with the principal.

Where the supply is made by the principal to the third party and if the total taxable turnover of the principal exceeds E500, 000.00, then that principal should register for VAT and should then comply with all the requirements which include among others issuing tax invoices, submitting returns and remitting VAT due.

YES. The supply of residential accommodation is exempt from VAT. Rentals of buildings for commercial purposes are taxable at the standard rate of 15%.

Importation of machinery will be charged VAT at importation. If the importation is done by a VAT registered person the VAT charged at importation can be claimed as input tax. If the importation is done by a non-registered person it will be a cost. The same applies when sourced locally.

The importation or local acquisition of livestock is taxable. Any supply of livestock by a local person who is registered for VAT is taxable at the rate of 15%

Where the Swaziland based registered business supplies goods, and the foreign buyer consigns the goods from Swaziland; the supply must be standard rated (or zero-rated if covered by the Second Schedule of the VAT Act).

Direct exports are transactions whereby the Swaziland based supplier is responsible for consigning or delivering the goods at an address outside of the country.  This must be evidenced by documentary proof of export.

Direct exports are zero-rated; indirect exports on the other hand are standard-rated (or zero-rated if covered by the Second Schedule of the VAT Act.)

Yes. However, a person who wishes to benefit from this facility may apply to the Commissioner General for admission into the scheme. The application form may be downloaded here.

As from the 1st of April, goods imported as accompanied passengers’ baggage for personal use of a total value not exceeding E250 per person, are exempted from VAT.

There are no current plans to enter into a MoU with Mozambique. The public will be notified should there be any developments in this regard.

No. VAT incurred outside Swaziland is governed by a jurisdication outside of Swaziland.

Yes. The import of goods by any person into Swaziland is taxable at the applicable rate. It is irrelevant whether or not you have incurred VAT in the country of origin. However, through Sekulula VAT Easy, the VAT incurred in the Republic of South Africa (excluding VAT incurred on Motor vehicles) may be used to settle import VAT on the Swazi side if valid. Sekulula VAT Easy requirements can be accessed here.

Section 28 and 51 of the VAT Act refers. Taxpayers must keep accounts and records for at least 5 years. Businesses have up to 5 years to claim input tax credit; the SRA can also make an assessment going back as far as 5 years in respect of output tax.

Input tax cannot be claimed in the absence of a tax invoice and if the purchase will not be used for making taxable supplies. A business will have to insist on a tax invoice from its suppliers if it is dealing with a taxable person.

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)

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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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