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Swaziland

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About

Swaziland

Capital
Official languages
Population 
Currency

ISO 4217

Mbabane

English and siSwati

1.4 million

Lilangeni

SZL

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Economy

"Swaziland's economy has been steadily improving in recent years. According to the World Bank, the country's GDP grew by an average of 3.2% between 2015 and 2019. This growth was largely driven by the services sector, which accounted for nearly 60% of the country's GDP in 2019. The manufacturing sector also contributed significantly to the economy, accounting for around 20% of GDP. The agricultural sector, meanwhile, accounted for just over 10% of GDP.

In terms of employment, the services sector is the largest employer in Swaziland, accounting for around 60% of total employment in 2019. The manufacturing sector accounted for around 20% of total employment, while the agricultural sector accounted for just over 10%.

In terms of foreign trade, Swaziland's exports totaled $1.2 billion in 2019, while imports totaled $2.3 billion. The country's main exports include sugar, wood, and textiles. Its main imports include machinery, vehicles, and chemicals.

Overall, Swaziland's economy has been steadily improving in recent years, with the services sector playing a major role in driving economic growth. The country's foreign trade is also relatively balanced, with exports and imports both contributing significantly to the economy."

Taxation

Swaziland is a country located in Southern Africa, and its taxation system is administered by the Swaziland Revenue Authority (SRA).


Corporate taxation in Swaziland is applied to both resident and non-resident companies. Resident companies are taxed on their worldwide income at a standard rate of 27.5%, while non-resident companies are taxed on income earned in Swaziland at a rate of 27.5%. There are also municipal taxes that can vary depending on the location of the company. Companies are required to file annual tax returns and make payments to the SRA by the deadline set by the government.


Personal taxation in Swaziland is applied to residents only. Residents are taxed on their worldwide income at a progressive rate, ranging from 0% to 33%. In addition to income tax, there are also taxes on capital gains, donations, and inheritance. Individuals are required to file annual tax returns and make payments to the SRA by the deadline set by the government.


Value Added Tax (VAT) is applied to most goods and services in Swaziland at a standard rate of 14%, with reduced rates of 0% and 7.5% for certain goods and services. Businesses registered for VAT must file monthly VAT returns and make payments to the SRA by the deadline set by the government.


The tax calendar in Swaziland runs from April to March, and tax returns and payments are due by different deadlines depending on the type of tax and the taxpayer's circumstances. For example, corporate tax returns are due six months after the end of the accounting period, while personal tax returns are due by September 30 of the following year. VAT returns are due monthly, with payments due within 21 days after the end of the period.


It's important to note that tax laws and regulations in Swaziland can be complex, and it may be necessary to consult with a tax professional or legal expert to ensure compliance with Swaziland tax laws. Additionally, tax rates and regulations can vary depending on the location and industry, and it's important to check the local tax laws and regulations to ensure compliance.

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