Zimra surpasses revenue target

Source: Zimra surpasses revenue target – DailyNews Live

BUSINESS WRITER  14 July 2017

HARARE – Zimbabwe’s tax agency Zimra has said it exceeded its 2017 second
quarter revenue target by over 9 percent, as the economic outlook became
positive, buoyed by the good agricultural season and a battery of measures
to stimulate investment, exports and production.

Zimra chairperson Willia Bonyongwe said in a statement the agency
collected $926,96 million in taxes between April and June 2017 compared to
a target of $843,16 million.

“The major performing tax heads were company tax; dividends, fees,
interest and remittances; customs duty; excise duty; and mining royalties.

“The level of refunds soared in June 2017 and this will be investigated,”
Bonyongwe said

The Zimra board chairperson, however, said the tax agency was owed $3
billion at end of June, from $2,67 billion in January amid an intensifying
dollar crisis.

The tax authority has been bankrolling government expenditure. – Staff
Writer