Eswatini Benefits in Kind Valuation Deferred: Practice Note IT/01/23 Now Effective 1 September 2026

The Eswatini Revenue Service has deferred implementation of Practice Note IT/01/23, which governs the valuation of benefits in kind, from the originally scheduled date of 1 July 2026 to 1 September 2026. This deferral provides employers with additional time to prepare for the updated valuation rules and revised Schedule A rental benefit values.

Deferral of Practice Note IT/01/23: Benefits in Kind Valuation

Implementation Deferral Details

• The Eswatini Revenue Service has deferred implementation of Practice Note IT/01/23 (benefits in kind valuation) from 1 July 2026 to 1 September 2026.
• The revised effective date for the updated valuation rules and Schedule A rental benefit values is now 1 September 2026.

Implementation Timeline

The following table shows the updated implementation timeline for Practice Note IT/01/23:

Key Date Status

1 July 2026 Originally scheduled effective date (now deferred)

1 September 2026 New effective date for updated valuation rules

What This Deferral Affects

Practice Note IT/01/23 provides the Eswatini Revenue Service's official guidance on the valuation of benefits in kind (fringe benefits) for income tax purposes. The deferral applies to:

• Updated valuation rules for benefits in kind
• Schedule A rental benefit values for housing allowances and provided accommodation
• Any revised methodologies or thresholds for calculating taxable benefit values

Important: Action Required for Employers

Although the implementation has been deferred to 1 September 2026, employers should begin reviewing the updated valuation rules in Practice Note IT/01/23 now. This additional time allows you to assess how the new rules will affect the taxation of benefits provided to employees, particularly housing allowances and rental values under Schedule A. Update your payroll systems and benefit valuation processes before the 1 September 2026 effective date.

About Practice Note IT/01/23

Practice Note IT/01/23 is issued by the Eswatini Revenue Service and provides official guidance on how benefits in kind (such as housing, motor vehicles, and other fringe benefits) should be valued for income tax purposes. These valuations are critical for determining taxable income when employers provide non-monetary benefits to employees.

Eswatini Practice Note IT/01/23: Official Resources

The deferral was reported by Business Eswatini and confirmed with the Eswatini Revenue Service. The official notice will be shared once published by the Eswatini Revenue Service.