1 300 TO BE TAX COMPLIANT IN 5 YEARS
SRA Commissioner General Dumisani Masilela with JA Executive Director Siboniso Madlopha

1 300 TO BE TAX COMPLIANT IN 5 YEARS

Junior Achievement (JA) and the Eswatini Revenue Authority (SRA) have taken a giant leap to strengthen financial literacy in schools by introducing taxation lessons. According to JA Executive Director Siboniso Madlopha, the program will reach all 50 schools under JA with the partnership impacting over 1 300 students. Madlopha
said in next three to five years, the country will be having over 1 300 young business people who are tax compliant. Tax Compliance is the degree to which a taxpayer complies (or fails to comply) with the tax rules of his or her country, for example by declaring income, filing a return, and paying the tax due on time. This was revealed during the signing of the Memorandum of Understanding between JA and SRA, which was held at the latter’s headquarters in Ezulwini. Madlopha added that the lessons that will be provided through this partnership will
help the young entrepreneurs to be ready for the world of business and by doing so, the country’s tax base will improve which will result in government being able to provide higher levels of public services, and thereby attracting more companies and individuals out of the underground economy, resulting in a healthy, balanced national economy. On the other hand, SRA Commissioner General Dumisani Masilela said it was high time that the youth was taught about taxation as this would increase the tax compliance rate among the MSME sector which is currently standing at 34%. Masilela said in most developing and developed countries, MSMEs were the spine of economic growth, and it was necessary that concentration was not only given to the generation of taxes, but also the well-being of MSME tax payers. He said this was exactly the reason they were in partnership with JA.

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