Tax Authority hits tax revenue target for 2018

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Tax Authority hits tax revenue target for 2018

3:16 CAT | 08 Jan 2019

in file CoM

Tax revenues in Mozambique rose by 27 billion meticais in 2018, reaching around 223 billion meticais (3.1 billion euros), the Tax Authority (AT) announced.

In 2017, tax revenues had reached 196 billion meticais (2.7 billion euros)

Tax Authority president Amélia Nakhare, who has been quoted by daily newspaper Notícias, said the volume of revenues achieved in 2018 corresponds to the target set in the State Budget (OE).

Nakhare said the Authority met the target owing to slight improvement in economic activity in the country.

“The favourable situation that the Mozambican economy experienced in 2018 allowed an increase in income tax”, added Nakhare.

The extension of the tax base, with the entry of new taxable persons, also ensured the volume of tax revenues forecast last year.

“The analysis of the company accounts processes has made it possible to correct various irregularities, such as compliance with the issuance of invoices and equivalent documents, the tax regime and the recovery of frozen receipts,” said Nakhare who added that the sealing campaign for alcoholic beverages and manufactured tobacco and the marking of fuels also boosted the tax revenues last year.

Source: Lusa