World Bank lowers Mozambique’s growth forecast to 1.8% this year
Mozambique: Capital gains boost tax revenue to €4.1B
1:56 CAT | 31 Jan 2020
in file CoM
Extraordinary revenue of $880 million (€798.6 million) allowed Mozambique to raise total tax revenues of 288.6 billion meticais (€ 4.1 billion) in 2019, the Tax Authority (TA) said on Thursday.
In the balance sheet, which Lusa saw on Thursday, it noted that without this surplus, the Mozambican state would have ended the year with a deficit of 970 million meticais (€13.7 million) regarding the target of planned revenues.
For 2019, then taxman planned to collect 244.2 billion meticais (€3.47 billion), but 234.5 billion meticais (€3.3 billion) were achieved without the extraordinary revenue.
“In October 2029, there was extraordinary revenue of $880 million, which leveraged the overall gross revenue to 288.6 billion meticais,” the balance sheet said.
This figure relates to what the oil company Anadarko paid the state for the sale of its shares to the French multinational Total in the natural gas concession in the Rovuma Basin.
In net terms, the document continues, purging VAT refunds, the revenue was 113.19%, against a charge of 276,480.84 million meticais (€3.9 billion).
The survey pointed out that internal taxes contributed 75.61% to the volume of revenue achieved and external taxes 24.39%.
On Monday, the tax office director-general, Aly Mallá, said that the state exceeded the 2019 revenue volume target by 113%, a figure that doubles this year’s revenue projection, but did not go into detail about that performance.
Source: Lusa
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