Zimra surpasses revenue target

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

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