By Zweli Martin Dlamini

MBABANE: Brightwell Nkambule, the Commissioner General of the Eswatini Revenue Service (ERS) has announced that, R4.8billion was illegally transferred out of the country in the last twelve (12) months adding that, the bank transfers are a subject of a vigorous investigation by the revenue institution.

The Commissioner General was speaking at the ERS Headquarters-Ezulwini on Monday, this was during the Tax Compliance Certificate Briefing graced by Finance Minister Neal Rijikernberg and other key stakeholders including the Eswatini Bankers Association represented by Chairperson Fikile Nkosi.

“We are currently investigating transactions amounting to E4.8 billion that was transferred out of the country within 12 months,” said the Commissioner General.

The ERS Commissioner General further disclosed that, out of the R4.8billion, only R33million was declared to the revenue institution, emphasizing the importance of collaborating with banks to enforce the country’s tax laws.

Commissioner General Nkambule assured the Finance Minister and the entire Government that, after the delivery of the National Budget Speech, Eswatini Revenue Service will vigorously work towards ensuring that, R19.48billion come from domestic taxes to supplement the expected R11.7 billion SACU receipts.