Page 23 - Nexia SAB&T Africa Overview 2025

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: 1,2 million (2025,est)

Key Economic Indicators:
▪ GDP: $5,1 billion (2023) / GDP Growth Rate: 3.7% (2024)
▪ CPI Inflation Rate (annual): 5.2% (2025)
▪ Sovereign Credit Ratings: Moody’s: B3, S&P: Not rated,
Fitch: Not rated (High Credit Risk)
▪ Indicator of Economic Freedom Score: 56.4/100 (2025): Mostly Unfree
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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