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Swazi indigenous businesspeople financially struggling, SRA grabs monies, freezes bank accounts.

Tuesday, 28th September, 2021

MBABANE: Swazi businesspeople are complaining that the Eswatini Revenue Authority(SRA) continues to grab all their monies and freeze even bank accounts despite the current financial challenges perpetrated by the COVID-19 pandemic.

Reached for comments, Johannes Manikela, the Chairman of the Federation of Eswatini Business Community(FESBC) confirmed that most businesses owned by Swazis were struggling because of SRA who grabbed almost every cent from their businesses through endless penalties.

“The way SRA treats us, it’s even demotivating to own a business that is registered with them under the Value Added Tax(VAT) because once you register, your business will collapse. This then promotes a culture where SMEs will always struggle and survive through selling vegetables only on the streets not  businesses that will create jobs and eradicate poverty”, he said.

A businessman who spoke to this publication said many bank accounts belonging to Swazi owned companies were frozen by SRA, he accused King Mswati who doubles as a businessman of using SRA to target their companies and push them out of business.

“Please do your research, you will find out that many bank accounts for Swazi owned companies were frozen, the environment is no longer conducive for business here”, said the businessman who cannot be named as he approached this publication as a whistleblower.

Reached for comment by this Swaziland News on Tuesday,  Dumisani Masilela, the SRA Commissioner General said most companies collected the VAT and then kept it for themselves without remitting same to the revenue authority.

“Most businesses collect the VAT and then failed to remit it, that is when they find themselves in trouble with us. VAT is actually paid by the final consumer of the goods, which is you and I. The businesses collect this money and decide not to remit it to the ERS”, said the Commissioner General.

Swazi indigenous businesspeople financially struggling, SRA grabs monies, freezes bank accounts.
SRA Commissioner General Dumsani Masilela