Net revenue collected by the Zimbabwe Revenue Authority (Zimra) during the first quarter (Q1) of 2017 grew by 14% over the same period last year, according to a statement issued by the authority.
Chairperson of the Zimra board, Willia Bonyongwe, attributed the increased figures to “revenue enhancement measures” implemented by the authority this year. These include automation, greater enforcement and the fight against corruption.
The bulk of the revenue for Q1 2017 was from value added tax (VAT) on local sales (which contributed 22.42%) and Excise Duties (18.17%).
Bonyongwe was upbeat about the outlook for the rest of the year, noting that the Zimbabwean government had introduced various incentive schemes to boost agricultural and cotton production.
