> Revenue target for 2012 exceeded
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Revenue target for 2012 exceeded




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clubofmozambique (2012-12-31) The Mozambican Tax Authority (AT) has exceeded the revenue collection target for 2012.

AT Chairperson Rosario Fernandes, drawing up the balance of his institution’s performance over the year, declared on Friday that, by late Thursday afternoon, total revenue collection for the year was 95.8 billion meticais (3.24 billion US dollars).

The target for the entire year, fixed in the state budget, was 95.5 billion meticais, and the AT had surpassed the target by about 350 million meticais.

Total revenue collection in 2011 was 79.2 billion meticais: thus this year’s figure is an increase of 21 per cent.

Fiscal revenue accounts for 84.2 per cent of the total - including corporation tax, personal income tax and value added tax (VAT). Capital revenue, notably the dividends from state holdings in businesses run by IGEPE (Institute for the Management of state Holdings) came to 6.6 per cent of the total.

Fernandes attributed the AT’s success to an expansion of the tax base, bringing an ever large number of individuals and enterprises into the tax net. The AT has been waging publicity campaigns urging citizens to pay their taxes, and has made it easier for them to do so by opening new fixed and mobile tax collection posts, while improving the existing ones.

Since the establishment of the AT in 2006, Mozambique has continually exceeded the budgetary targets for revenue collection.

The improvements in revenue collection have made the Mozambican budget less dependent on foreign aid. A few years ago, foreign aid covered more than half of Mozambican public expenditure. Thus in the 2010 budget, foreign grants and loans covered 51.4 per cent of expenditure.

But the figure fell to 44.6 per cent in the 2011 budget, and to 39.5 per cent in 2012. For 2013, the projection is that foreign aid will meet only 32.8 per cent of expenditure.

Source: (AIM)







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