Mozambique: Additional tax on rental income, broadening of VAT base promised to the IMF
DW (File photo)
The government may resort to compulsory collection procedures as to the money disbursed by the Youth Initiatives Support Fund [Fundo de Apoio às Iniciativas Juvenis / ‘FAIZ’].
Lack of basic business management skills on the part of beneficiaries is behind the poor disbursement of the Youth Initiatives Support Fund, according to Maputo Youth and Sports Director Elias Wiliamo.
In an interview with Radio Mozambique, Wiliamo revealed that, from this year on, FAIZ beneficiaries would undergo basic training in project and business management.
In the eleven years from 2005 to 2016, the Fund for the Youth Initiatives Support Fund financed 164 projects in the city of Maputo at a cost of six million meticais (around US$99,600 at current exchange rates), of which 500,000 meticais (around US$8,300) has been repaid.
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