Zimra surpass revenue target by 50 percent

By Davison Vandira

ECONOMIC Analysts have commended the Zimbabwe Revenue Authority’s strong performance after surpassing its 2021 fourth quarter collection target by a 50 percent.

The Zimbabwe Revenue Authority’s capacity to collect revenue has set the country on a growth path, after impressive 2021 fourth-quarter revenue statistics where ZWL$157 billion was collected against a target of ZWL$108 billion dollars.

Value Added Tax, Company Tax, Intermediate Money Transfer Tax better known as (IMTT) and Excise duty on imports were the major tax heads that performed above expectations.

It is against these encouraging revenue statistics that economic analysts are optimistic government’s capital projects and recurrent expenditures will be met sufficiently without resorting to borrowing.

“Revenue assurance is the cornerstone of any meaningful economic development as such when Zimraconstantly meets its revenue targets it means the country is well poised for sustainable growth,” Kudakwashe Mugova Economic Analyst.

“Zimra’s continued strong performances are the benefits of fiscal consolidation undertaken by the Transitional Stabilization Programme hence fundamentals for sustained growth are now in place.”

Fiscal prudence continues to be the hallmark of the second republic in its management of the economy.