The government’s tax collector, Zimbabwe Revenue Authority (ZIMRA) says Zimbabwe’s revenue inflows are expected to reach a US$3.7 billion mark this year owing to an improved tax compliance monitoring system.
ZIMRA, which exceeded gross revenue collections by eight percent to US$1.65 billion in the just ended six months, is confident of achieving an overall US$3.7 billion mark by year end.
In an interview with the ZBC News on Tuesday, ZIMRA chairperson Mrs Willia Bonyongwe says a tight monitoring system and improved compliance with tax principles by industry and commerce has seen Zimbabwe revenue collections registering positive results.
“While the increased revenue collections might mean an improvement in the general macro-economic conditions, the authority will, however, not relax in its quest to increase revenues,” said Mrs Bonyongwe.
Concern is, however, being raised on the need to tap the small to medium enterprise contributions, a development, Mrs Bonyongwe says is being considered by regulatory authorities.
The rise in the revenue collections, while indicating a rebound in economic performances for productive sectors, observers are, however, concerned on the need to ensure income inflows can contribute to the development of the nation in light of the cash flow constraints affecting the country.