OrbitaxEswatini Introduces Reduced Corporate Tax Rate, an Interest Deduction Restriction, New Transfer Pricing Rules, and Other Income Tax Changes
|Approved Changes|Eswatini (formerly Swaziland)
According to recent reports, Eswatini published the Income Tax (Amendment) Act 2023 on 20 October 2023, which includes several important tax changes. The main changes include:
- The corporate tax rate is reduced from 27.5% to 25%;
- The withholding tax rate on interest paid to non-resident companies is increased from 10% to 15%;
- The branch profits tax imposed on repatriated income to neighboring c…