Mozambique: AT launches national program to support transition from the informal to the formal economy

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Mozambique: AT launches national program to support transition from the informal to the formal economy

3:56 CAT | 01 Jun 2022

The Mozambique Tax Authority this Wednesday in Nampula launched the National Cooperativism Program, aimed at helping businesses transition from informal to formal modes of operation.

This Programa Nacional de Cooperativismo arises from the fact that informal economic activities contribute around 30% of the country’s gross domestic product (GDP).

Speaking on Tuesday in Nacala, Nampula province, president of the Tax Authority Amélia Muendane pointed out that the state loses a large amount of revenue because so much business activity takes place in the informal sector.

This, she added, made it necessary to ensure that the informal economy is captured in terms of revenue collection.