MINISTER of Commerce, Industry and Trade Manqoba Khumalo has called for a review of Eswatini’s E20 000 Tax Compliance Certificate (TCC) threshold, saying it places pressure on small businesses.
Khumalo made the remarks during a question-and-answer session at the ministry’s engagement with the Editors Forum on legislative and policy reforms at the Royal Villas, Ezulwini, yesterday, following concerns raised by The Nation Magazine Editor Bheki Makhubu about the challenges facing emerging entrepreneurs.
Makhubu used an anecdote about an individual whose business growth was being constrained by TCC requirements, arguing that the threshold made it cumbersome for budding entrepreneurs to operate and expand their businesses.
A TCC is a document used to confirm a taxpayer’s compliance status with the Eswatini Revenue Service (ERS).
Depending on the transaction and applicable requirements, businesses may need to produce a valid certificate when seeking certain contracts, licences or other services.
The E20 000 threshold has become a concern for small operators who argue that compliance requirements can create barriers as they attempt to formalise and grow.
Responding to the concerns, Khumalo said the matter required engagement between government and the private sector, adding that the threshold fell outside his ministry’s direct mandate, although it participated in consultations.
“When consulted we do state our views, even when in Parliament or workshops. My desire is that the threshold be increased because those who run small and medium enterprises become challenged in the process of doing business,” he said.
Khumalo said the business community needed to organise itself and present a united position on whether the current threshold was working for small enterprises.
He cited organisations, including the Business Federation of Eswatini (BUFE), the Federation of Eswatini Business Community (FESBC) and Business Eswatini as bodies with the convening power to bring businesses together.
“The right balance has to be struck,” he said, cautioning that easing the requirements should not encourage a culture of tax non-compliance.
He added that he had consistently heard concerns that the E20 000 threshold was too low and reiterated his desire to see it increased.
Beyond the TCC issue, Khumalo revealed that the ministry also intended to amend trading-licence legislation to make business registration almost ‘zero cost’, saying Eswatini was lagging behind South Africa in this regard.
The minister said improving the business environment was essential to empowering local entrepreneurs and creating sustainable employment.
The ministry’s broader reform agenda seeks to build a more competitive economy in which small businesses can grow and contribute to national development.
E3 billion investment facilitated in Eswatini
ESWATINI facilitated more than E3 billion in capital investment during the 2024/25 financial year.
Over 2 000 actual jobs were recorded from investment projects, Minister Khumalo has said.
Speaking at the engagement with the Editors Forum, Khumalo said the figures highlighted the role of private-sector investment in employment creation.
He said job creation could not depend on government recruitment alone, but required a dynamic private sector, a supportive regulatory environment, access to finance and relevant skills.
The investment was facilitated through the Eswatini Investment Promotion Authority (EIPA), underscoring the importance of attracting investors and improving the business environment.
Khumalo said government was pursuing reforms across several sectors to expand opportunities for businesses and Emaswati.
