Robust contribution of mega-projects to Mozambique’s tax authorities continues – Carta

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Robust contribution of mega-projects to Mozambique’s tax authorities continues – Carta

9:04 CAT | 24 Nov 2021

FILE PHOTO - For illustration purposes only. [File photo: Noticias]

Mega-projects in various sectors of the Mozambican economy channelled more taxes into state coffers from January to September this year than they did in the first nine months of 2020.

Data recently released by the Ministry of Economy and Finance (MEF) in the State Budget Execution Report for the first nine months of the year, indicate that the contribution of mega-projects to the tax authorities stood at 21.8 billion meticais, a growth of 48.1 % compared to the same period of 2020, in which the state received 14.7 billion meticais.

The report states that the 21.8 billion meticais received from megaprojects represents 11% of the total revenue collected by the government from January to September this year: 198 billion meticais, against 171 billion meticais collected in the same period of 2020.

Within the mega-projects, the highlight is the contribution of the oil exploration sector, which in the period under review reached 8.5 billion meticais, against 5.2 billion meticais in the same period of last year.

The energy production sector stood out as the second area that contributed the most to the tax authorities in the period in question, having channelled 9.7 billion meticais to the state coffers, against 6.4 billion meticais in the first nine months of 2020.

In third place is the mineral resources exploration sector which, in the period in question, channelled 2.7 billion meticais, against 5.2 billion meticais in the same period last year.

Finally, the other un-specified subsectors channelled 856.5 million meticais to the tax authorities in the first nine months of 2021, as against 722.1 million meticais registered in the same period of 2020.

By Evaristo Chilingue

Source: Carta de Moçambique