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Home Mozambique

Mozambican tax authorities collected US$2B in the first half

Rafael Carvalho by Rafael Carvalho
July 23, 2021
in Africa, Economy, FA, Finance, Mozambique, Tax
Reading Time: 1 min read
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Mozambique launches mobile tax collection stations across country

Mozambique’s Tax Authority has collected 127 billion meticais (US$ 2 billion) in the first half of this year, fulfilling 48% of the projected tax revenue target for 2021, the governmental body announced.

The director of AT’s Office of Planning, Studies and International Cooperation, Augusto Tacaríndua, quoted today by the daily Notícias, said that the performance of the tax authorities registered from January to June was determined by the large taxpayers, who were responsible for 70% of the revenue.

“Surprisingly, the large taxpayers presented positive results that, in fact, justified this performance, as they are responsible for 70% in the category of income taxes and VAT”, said Tacaríndua.

Also read: Fitch maintains Mozambique’s CCC rating and forecasts growth of 1.8% this year

The Personal Income Tax (IRPS), namely the remuneration of workers, the Property Income Tax and the income of individuals who carry out business activities also had an influence on the provision that the tax authorities recorded in the first half of this year, he added.

The director of the AT’s Office of Planning, Studies and International Cooperation said that the tax authorities had projected a target of 265 billion meticais (US$ 4.1 billion) in revenue for the entire year, but warned of the difficulties in reaching that goal, due to the impact of the covid-19 pandemic on the economy.

“Our fear has always been and will continue to be the impact of the covid-19 pandemic” he said.

Related

Source: Lusa
Tags: FeatureFinanceMozambican tax authorities collected US$2B in the first halfMozambiqueRafael CarvalhoTaxtax revenuesмозамбикموزمبيقモザンビーク莫桑比克
Rafael Carvalho

Rafael Carvalho

Currently the Managing Editor of furtherafrica.com, I am passionate about writing, in its myriad forms. As I started writing and editing content about Africa, I came to the realisation that, just like our ancestors hailed from the motherland, so is the future, too, very much African-oriented. Join me then, as we learn more about a future that is welcoming, multicultural and full of promise. The future that is Africa.

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