via Zim misses revenue target | The Herald October 28, 2014
Zimbabwe missed its revenue target in the quarter to September as most heads underperformed, a latest report on revenue performance by the Zimbabwe Revenue Authority shows.
Net revenue collections amounted to $884,5 million against a target of $972,3 million resulting in a negative variance of 9 percent. Most of the revenue was realised from value added tax, which contributed $250,2 million, followed by individual tax and excise duty which contributed $226,2 million and $122,9 million respectively.
Revenue from individual tax increased by 7 percent from last year’s third quarter collections of $211,3 million.
“The current positive performance of the revenue head can be attributed to on-going follow ups, revenue enhancing projects and audits that are being carried out by the Zimbabwe Revenue Authority,” commissioner general Mr Gershem Pasi said.
Total value added collections contributed 28 percent to total revenue. Gross collections were $325,7 million against a target of $321,4 million.
Value added tax refunds amounted to $75,9 million thus culminating in net collections of $250,2 million, which translates to a negative variance of 22 percent against the quarterly target.
Net VAT on local sales contributed 49,5 percent to total VAT revenue and 14 percent to total revenue. This represents an 8 percent decline in net collections from the same period last year where a total of $185,3 million was collected.
“The fall in industrial capacity utilisation which has resulted in reduced production of goods and services that attract VAT,” said Mr Pasi.
Mining Royalties contributed $33,1 million to total revenue against a target of $48,3 million resulting in a negative variance of 31 percent. During the same period last year, $24,9 million was collected which translates to a 25 percent increase in revenue collections.
COMMENTS
Of that $884 million collection more than 2% goes towards Gershem Pasi Salary and allowances going by what featured in the papers early this year. An extra of 5% goes to all the other employees up to cleaners. If the government was treating Pasi and partners as civil servants they will be earning all of them a lower limit of $250 upper $1200 monthly and ZIMRA has a staff compliment of around 2000 that would all 3%. That meant more funds being released to the government expenses and doctors. However due to following the SADC trends of creating revenue authorities and abnormal financial benefits emaneting from corruption and political connections to ZANU PF this is what has been created. The same goes for the PSMAS, no service delivery yet executive perks are abnormal. Why? serious ZANU PF links.
Why is the Herald telling us stuff like this. We already know these things. Businesses are closing left right and centre. The country is slowly or quickly shutting down and all ZPF are worried about is their December thingy. You see we can’t cheat and steal and lie and kill and hate and bribe and be corrupt and so on and so on and expect blessings from God. My husband and I bought a plot in the shutini for 6000. Our conveyencer told us Zimra would not accept it so we put it in for 9000. They charged us the requisite transfer fees etc on 15000. That is THEFT! and extortion! No wonder we are going under.
Zpf crooks