Eswatini 2022/23 Budget Measures Include Corporate Tax Rate Reduction and Worldwide Income Tax Basis

Eswatini's Minister for Finance, Neal Rijkenberg, delivered the Budget Speech 2022 in February 2022. Planned tax changes for 2022/2023 include:

• Introducing a capital gains tax for businesses that is aimed at closing loopholes that businesses are using to pay less tax;
• Increasing the monthly tax-exempt individual income amount from SZL 3,500 per month to SZL 4,000 per month, along with an increase in the upper tax bracket rate from 33% to 36%;
• Introducing a presumptive tax for SMEs to simpli…