Thumbs down from IMF - By Joseph Hanlon
Tax collection at Maputo Port, one of Mozambique’s main foreign trade ports, is around only 72 percent of the annual revenue forecast, the Tax Authority (AT) has announced.
“The plan foresees that by December 34 billion [EUR 476 million] would had been collected, but by November only 24.6 billion [EUR 344.4 million] had been collected,” President of the AT Amélia Nakhare said, and reaching the target “poses numerous challenges”.
Nakhare visited the port on Monday and argued that greater flexibility in the handling of cargo and the settlement of pending cases was needed.
Most of the tax revenue in the Port of Maputo came from the import of vehicles, she said, which had suffered a reduction due to the crisis over the last two years, but “there is already a recovery,” she added.
Nakhare expects a resumption of the economy to boost revenues next year.
The 2018 State Budget proposal the government delivered to the Assembly of the Republic foresees an increase in revenue of 20 percent, but without detailing where it will come from, and in a scenario where the economy is expected to grow only around 5 percent.Source: Lusa