This paper documents the tax reforms implemented in Swaziland since the 1990s and how they have contributed to revenue collection. Reforms have had a major impact on the collection of indirect taxes (especially VAT) but no clear impact on receipts of direct taxes and trade taxes.

Persistent concentration of tax collection:

Despite efforts to broaden the tax base, tax collection is still heavily concentrated on very few sources, with SACU receipts alone accounting for more than one-half of total revenue.

Insufficient revenue growth from other sources:

Growth in revenue collections from direct taxes on income and profits, and indirect taxes on goods and services, remains substantially too low to compensate for the loss in import tariff revenues.