The Zimbabwe Revenue Authority (Zimra) collected $4,1 billion more than targeted at $90,6 billion during the first quarter (January-March) of the year.
In a first-quarter performance report, Zimra board chair Josephine Matambo said the revenue collections rose to $90,6 billion against a target of $86,5 billion.
“The foreign currency auction system has assisted industry to maintain or expand operations as companies were able to acquire raw materials at official exchange rates. Extra efforts made by Zimra to carry out compliance enforcement programmes in the difficult circumstances enhanced revenue collections for the first Quarterly Payment Date (QPD). Relaxation of lockdown restrictions late into the quarter assisted companies to increase productivity, which resulted in improved revenue collections,” she said.
During the same period last year, collections were $13,9 billion.
