BY MBONO MDLULI
MBABANE – Eswatini Government’s revenue has increased by E3.3 billion from its projected amount in 2024.
This is contained in the report of Auditor General (AG) Timothy Matsebula, which is for the year ended on March 31, 2024. The report was tabled in the House of Assembly this past Friday. Total actual revenue collections for the fiscal year ended on March 31, 2024 amounted to E27 360 233 229.79 compared to a projection of E23 996 941 398.
On a comparative basis, total revenue receipts collections increased by 37% (E7 333 541 440.01) when compared with previous year’s performance. Southern African Customs Union (SACU) receipts increased by 102% during the fiscal year 2023/2024 to E11,750,494,297, while domestic taxes improved by 10% to E15 609 738 932.79 in the fiscal year 2023/2024. The table below is a summary of the revenue performance over a three-year period.
| SACU Receipts | Domestic Collections | Total | |
| FY 2022 | E6 375 136 563.05 | E12 772 250 211.42 | E19 147 386 774.47 |
| FY 2023 | E5 817 642 202 | E14 209 049 587.78 | E20 026 691 789.78 |
| FY 2024 | E11 750 494 297 | E15 609 738 932.79 | E27 360 233 229.79 |
| Two year Comparative | E5 932 852 095 | E1 400 689 345.01 | E7 333 541 440.01 |
| % Change | 102 | 10 | 37 |
The Contribution of the main components of revenue is presented in the table below:
| Revenue Components | Financial Year 2022 | Financial Year 2023 | Financial Year 2024 | Increase/ Decrease | Contribution Per Component |
| SACU Receipts | E6 375 136 563.05 | E5 817 642 202 | E11 750 494 297 | E5 932 852 095 | 0.43 |
| PAYE | E4 980 528 665.83 | E5 492 470 200.60 | E5 815 655 270.81 | E323 185 070.21 | 0.21 |
| VAT | E3 104 636 277 | E4 040 650 996 | E4 380 862 706 | E340 211 710 | 0.16 |
| Income Tax | E2 487 331 966.02 | E2 447 104 564.71 | E2 794 967 657.31 | E347 863 092.60 | 0.10 |
| Other Taxes, Levies and Duties | E1 513 189 042.71 | E1 508 649 826.73 | E1 527 551 232.26 | E18 901 405.53 | 0.06 |
| Services Fees, Licences and Other Revenue | E686 564 259.86 | E720 173 999.74 | E1 090 702 066.41 | E370 528 066.67 | 0.04 |
| Total | E19 147 386 774.47 | E20 026 691 789.78 | E27 360 233 229.79 | E7 333 541 440.01 | 1.00 |
SACU receipts were the highest contributor to the total revenue with 43%, above the PAYE which had a margin of 21%. VAT yielded 16% while income tax contributed 10%.
