Mbabane: From E4.79 billion in 2012/13 to E15.72 billion in 2025/26, Eswatini taxpayers have played a pivotal role in strengthening the country’s revenue base.
The Eswatini Revenue Service closed the 2025/26 financial year with E15.7 billion in total revenue collected reflecting a 7.6% growth from the previous year.
ERS Commissioner General Brightwell Nkambule highlights that this performance is driven by collective effort, discipline, and continued taxpayer engagement.
Missed target by 4.6%
Eswatini’s revenue collections increased in the 2025/26 financial year but missed the projected 4.6 per cent growth target, as a sharp decline in regional receipts offset gains made by domestic taxpayers.
Latest figures from the Eswatini Revenue Service show that total revenue reached E15.7 billion, reflecting a 7.6 per cent increase from the previous financial year. However, the performance fell short of broader fiscal expectations, largely due to reduced inflows from the Southern African Customs Union (SACU).
SACU receipts declined significantly from E13.07 billion in 2024/25 to E10.40 billion in 2025/26, representing a 20.4 per cent drop. The decline continues to expose the volatility of external revenue sources, which remain vulnerable to regional trade dynamics.
In contrast, domestic revenue continued its steady upward trajectory, rising from E14.61 billion in 2024/25 to E15.72 billion in 2025/26. Over the past decade, locally generated revenue has more than tripled from E4.79 billion recorded in the 2012/13 financial year, establishing it as the country’s most stable source of income.
The Eswatini Revenue Service attributed the sustained domestic growth to improved compliance levels and ongoing efforts within the tax and customs system, which have strengthened collections over time.
To support business operations and maintain confidence in the tax system, the revenue authority also increased refunds to taxpayers. Refund payments rose from E2.53 billion in 2023/24 to E3.02 billion in 2024/25, before reaching E3.49 billion in 2025/26. Of the latest figure, E3.48 billion was paid out as Value-Added Tax refunds, while E6.37 million was issued for income tax.
At the same time, service delivery indicators improved, with the Eswatini Revenue Service recording a Net Promoter Score of 83.96 in 2025/26. This marks a steady rise from 49.40 in 2022/23 and 77.30 in 2024/25, pointing to increased taxpayer confidence and satisfaction.
Commissioner General Brightwell Nkambule said the focus for the 2026/27 financial year will be on making compliance easier and strengthening partnerships with taxpayers.
He said while domestic revenue growth continues to provide a reliable base for government funding, managing external revenue fluctuations will remain key to meeting future targets and sustaining overall fiscal performance.
Discussion about this post