ZIMRA collections surge towards $5bn

The Zimbabwe Revenue Authority (ZIMRA) says cumulative revenue collections for 2018 are surging towards the $5 billion mark with at least $600 million expected to be collected during the month of December.

The country revenue collector, which surpassed the 2018 revenue target of $4.3 billion in November, said collections for the month of December have been encouraging with expectations that at least $600 million will be collected against an initial target of $445 million.

“Cumulative collections since January are positive. We were given a target to collect $600 million during the last month of the year and as of Friday last week, we had collected about $540 million. We are thus confident that we will reach the $5 billion mark by the end of the year,” ZIMRA Commissioner General Faith Mazani said.

The ZIMRA boss also highlighted that under a five-year strategy (2019-2023), the authority has prioritised fiscal sustainability in line with the Transitional Stabilisation Programme (TSP).

Going into 2019, the authority says it will continue to focus on promoting voluntary compliance with more attention on the informal sector.

Meanwhile, the ZIMRA chief has commended the staff for ensuring smooth movement of travellers at the ports of entry during the festive season.

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