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Wednesday, May 29, 2024

ZIMRA revenue collection improves significantly.

Story by Tichaona Kurewa

THE country’s quest to enhance domestic resource mobilisation is on track, with the Zimbabwe Revenue Authority (ZIMRA) revealing that revenue collection has improved significantly after the introduction of the Block Management System (BMS) in January this year.

The system involves zoning of taxpayers according to geographical location and assigning ZIMRA officials to manage all taxpayers within a given block.

It will include Central Business Districts, flea markets, farms, industrial areas as well as informal traders and rural business locations.

The 2023 Fiscal Policy saw Treasury opting for a stance to widen revenue sources to fund economic activities as well as critical infrastructure such as roads and dams.

ZIMRA is towing the line through the introduction of BMS and other initiatives to enhance domestic resource mobilisation and drive the economy towards the attainment of Vision 2030.

ZIMRA Commissioner General Ms Regina Chinamasa updated ZBC News in Victoria Falls on the effectiveness of the new tax management system.

“The block management system has increased revenue collection by about one percent. The block management system is bearing fruit as it has also raised awareness especially among SMEs on paying ZIMRA obligation at the same time it enables ZIMRA to get more information on businesses operating in a particular area as well as access to records,” she said.

The domestic resource mobilisation drive has been at the centre of the Second Republic’s policy thrust, with major infrastructure projects including roads such as the Harare-Masvingo-Beitbridge Highway and dams like Chivhu and Gwayi- Shangani Lake being funded by domestic resources.

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