africa Economy Finance Government Mozambique Tax

Mozambique exceeds tax collection target in 2016

The Mozambique Tax Authority (AT) raised 173 billion meticais (US$2.395 billion) in taxes in 2016, more than the 165 billion meticais it expected, said the president of the institution, cited by the Mozambican press.

Amelia Nakhare stressed that tax revenues have exceeded the initially planned amount, “in another year marked by business closures and a deep economic and financial crisis.”

The president of the AT acknowledged that the Tax Authority has weaknesses, given that only a minority of Mozambicans pay taxes, “which negatively affects the tax collection capacity of the state.”

The challenges of the institution in 2017 are, according to Nakhare, reducing customs clearance time at the port of Maputo and the reduction of alcohol smuggling, which accounts for about 60% of the products in this category available for sale in Mozambique.

Source: Macauhub


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