Zimra surpasses revenue collection targets

Zimra surpasses revenue collection targets
Published: 20 April 2017 (420 Views)
Zimbabwe Revenue Authority exceeded its first quarter revenue collection targets by 6.09%, with actual gross collections 

Net revenue grew from $724.89 million in the same period in 2016 to $826.63 million in 2017, which represents a 14.04 percent growth. Gross revenue collections in 2017 were 10.29 percent above the 2016 gross revenue collections.

Zimra chairperson, Willie Bonyongwe, said the performance was satisfactory and very encouraging and sets the right tone for what the Authority needs to achieve throughout the year.

"The depressed economy presented a significant challenge to revenue mobilization, but ZIMRA rose to the challenge, creating a strong foundation in systems development, revenue enhancement and compliance measures. That the targets were exceeded shows what a determined people can achieve," she said.

The bulk of the revenues in Q1 were from Value Added Tax on Local Sales (22.42%), Individual Tax (20.05%) and Excise Duty (18.17%) while Company Tax contributed 11.20%, with the rest of the revenue heads contributed 28.16%.


- online

Tags: Zimra, Revenue, Target,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Girlfriend hires foreign hitmen

by Staff reporter | 12 December 2017 | 250 Views

'Rate killer to save marriage'

by Staff reporter | 12 December 2017 | 164 Views

Man soils himself at a shrine while queuing to consult a prophet

by Staff reporter | 12 December 2017 | 172 Views

Mugabe's first trip since ouster

by Staff reporter | 12 December 2017 | 181 Views

Mugabe's 'obedient son' sought 'divine intervention'

by Staff reporter | 12 December 2017 | 212 Views

Poet praises Chiwenga

by Farai Shawn Matiashe in Mutare | 12 December 2017 | 113 Views

Mnangagwa's Politburo postponed

by Staff reporter | 12 December 2017 | 120 Views

'Dokora's curriculum to stay,' says Prof Mavima

by Staff reporter | 12 December 2017 | 72 Views

Military warn 'misguided' elements

by Staff reporter | 12 December 2017 | 101 Views

PHOTO: Cops weed photo goes viral

by Staff Reporter | 12 December 2017 | 183 Views

Kangai sued for $2m by NetOne

by Staff reporter | 12 December 2017 | 87 Views

CIO spy's appetite for Maleme farm still on

by Benson Mume | 12 December 2017 | 151 Views

Mpofu rallies his troops behind ED's vision

by Tamara Mutowa | 12 December 2017 | 136 Views

Fears for second Gukurahundi grip Mthwakazi - MLF

by MLF | 12 December 2017 | 163 Views

President Mnangagwa on the social media

by Leonard Koni | 12 December 2017 | 311 Views

Mpofu pledges support for BVR exercise

by Charles Motsi | 12 December 2017 | 94 Views

WATCH: Fuel shortages hit parts of Zimbabwe

by Simbarashe Sithole | 12 December 2017 | 154 Views

Bulawayo runs out of burial space, again

by Staff reporter | 12 December 2017 | 102 Views

Liquid Telecoms rapped for lack of back-up systems

by Staff reporter | 12 December 2017 | 96 Views

Cop steals friend's payslip, buys phone

by Staff reporter | 12 December 2017 | 108 Views

'Illegal to offer extra lessons for a fee'

by Staff reporter | 12 December 2017 | 91 Views

Dad beats daughter to death

by Staff reporter | 12 December 2017 | 122 Views

Mnangagwa meets provincial chairs

by Staff reporter | 12 December 2017 | 101 Views

62 in burning bus

by Staff reporter | 12 December 2017 | 144 Views

Man kills stepdaughter to please own mother

by Staff reporter | 12 December 2017 | 122 Views

Fresh bidding for Egodini project

by Staff reporter | 12 December 2017 | 67 Views

Masuku slams hero worship culture

by Staff reporter | 12 December 2017 | 94 Views

Zimbabwe accused 'murderer' in Botswana prison for 5 years

by Mmegi | 12 December 2017 | 90 Views

Guvamatanga quits Barclays

by Staff reporter | 12 December 2017 | 108 Views

Civil servants on bonuses

by Staff reporter | 12 December 2017 | 126 Views

Zimbabweans panic as permit deadline approaches

by CAJ News | 12 December 2017 | 90 Views

Peter Ndlovu not yet ready for Warriors

by Staff reporter | 12 December 2017 | 99 Views

Politburo kickstarts Zanu-PF Congress

by Staff reporter | 12 December 2017 | 93 Views

Ncube assumes 100% stake in AMH, sale M&G stake

by Staff reporter | 12 December 2017 | 68 Views

Bata invests $500 000 in gumboot plant

by Staff reporter | 12 December 2017 | 100 Views

Residents demonstrate over substandard houses

by Staff reporter | 12 December 2017 | 68 Views