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Zimra collects $108bn revenue

Zimra collected $108,93 billion in taxes and duties for the quarter of April to June this year surpassing its target by 15,96 percent, mainly due to intensified enforcement of tax laws and revenue enhancement activities.

 

The target for the second quarter had been set at $93,93 billion.

 

All taxes registered positive growth. Zimra paid out refunds of $2,29 billion during the quarter, leaving the net revenue at $106,64 billion.

Cumulatively, the net taxes and duties collected reached $195,18 billion by the end of last month, taking into account the refunds of $4,64 billion.

 

With a target of $180 million, Zimra managed to collect 8,16 percent more.

 

Zimra vice board chairperson Mrs Josephine Matambo said the relaxed Covid-19 lockdown restrictions allowed most companies to resume operations while others increased productivity, so raising VAT and other taxes.

“This, buoyed with the increased access to foreign currency through the forex auction system and the intensified enforcement and revenue enhancement activities by the authority, resulted in enhanced revenue collections,” said Mrs Matambo in her quarterly revenue performance report issued yesterday.

Herald

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