Acting Minister of Finance Launches Revenue Takeover Project
Today marks a significant milestone in Eswatini’s fiscal landscape as the Acting Minister of Finance, Honourable Mabulala Maseko, officially launched the Revenue Takeover project in collaboration with the Ministry of Finance, Government Ministries, and the Eswatini Revenue Service (ERS). This transformative initiative aims to streamline revenue collection processes by entrusting full responsibility to the ERS, in alignment with the Revenue Authority Act of 2008.
A Four-Phase Approach
The Revenue Takeover project will unfold in four distinct phases, with Phase 1 set to commence with the Ministry of Commerce. Beginning on May 2nd, 2024, all payments for Ministry of Commerce services, including company registration fees, trading licensing fees, and liquor licensing fees, will be facilitated exclusively at ERS Service Centres situated across the country. This strategic shift heralds a new era of efficiency and transparency in revenue collection, positioning Eswatini for enhanced fiscal management and economic resilience.
Empowering the ERS
Under the visionary leadership of the Ministry of Finance and in close collaboration with Government Ministries, the ERS assumes a pivotal role in driving the success of the Revenue Takeover project. By consolidating revenue collection functions within the ERS framework, the government underscores its commitment to modernizing fiscal administration, optimizing resource allocation, and fostering sustainable growth across key sectors of the economy.
A Phased Transition
The phased transition of revenue collection responsibilities from Government Ministries to the ERS represents a strategic imperative for enhancing accountability, minimizing bureaucratic inefficiencies, and maximizing revenue generation potential. As the project unfolds, stakeholders can expect seamless coordination, robust stakeholder engagement, and proactive measures to mitigate potential disruptions and ensure a smooth transition for all stakeholders involved.
A New Era of Efficiency
As Eswatini embarks on this transformative journey towards centralized revenue collection, the Revenue Takeover project epitomizes the government’s unwavering commitment to institutional reform, good governance, and socioeconomic development. By harnessing the collective expertise of stakeholders and leveraging cutting-edge technology, the nation is poised to unlock new opportunities, drive sustainable development, and advance the well-being of all citizens.
With the successful launch of the Revenue Takeover project, Eswatini embarks on a trajectory of fiscal modernization and institutional strengthening, laying the groundwork for a more resilient and prosperous future. As Phase 1 unfolds, stakeholders are urged to embrace this paradigm shift and actively contribute to the realization of Eswatini’s vision for inclusive growth, fiscal sustainability, and shared prosperity.