Page 21 - Profmark Africa Overview 2024

Eswatini (Swaziland) (GMT +2)

General:
▪ Capital City: Mbabane
▪ Official Language: English, siSwati
▪ Currency: Lilangeni (SZL)
▪ Main Exports: Sugar, wood pulp, cotton, beef, soft drink concentrates
▪ Surface Area: 17.4 sq. km (thousands)
▪ Population: 1,242 million (2024,est)
Key Economic Indicators:
▪ GDP: $4.59 billion (2023) / GDP Growth Rate: 4.8% (2023)
▪ CPI Inflation Rate (annual): 2.6% (2023)
▪ Sovereign Credit Rating: Moody’s: B3
▪ Indicator of Economic Freedom Score: 55.6/100
Exchange Controls:
▪ Exist, are not imposed within the Common Monetary Area
Basis of Taxation: (Tax Year End: 30 June)
▪ Residents: Swaziland-source/deemed Swaziland-source income
▪ Non-residents: Swaziland-source income
Tax Rates:
▪ Individuals: Progressive rates range from 0% to 33%
▪ Companies: 27.5% (25% for year ends after 31 December 2024)
▪ Inheritance and Donations Taxes: N/A
▪ VAT: 15%
▪ Withholding Tax: residents: N/A, non-residents: varying rates apply
▪ Capital Gains Tax (CGT): N/A
▪ Double Taxation Agreements: In place with several countries
Useful links:
▪ Central Bank of Swaziland http://www.centralbank.org.sz
▪ Swaziland Revenue Authority http://www.sra.org.sz
▪ Swaziland Investment Promotion Agency http://www.sipa.org.sz

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